Posted under Startups
from 1889 days ago

Arlene Weintraub

At first glance, the $1.1 million financing announced by Halo Therapeutics on Tuesday looked like your average case of a biotech startup scraping together enough money to get its early-stage compound into pivotal human trials. But this funding was anything but average. That’s because the money came from 12 nonprofit foundations pursuing a common goal: They all want to find new treatments for Duchenne Muscular Dystrophy (DMD), a rare but debilitating muscle disease that leads to early death in young boys. And they all believe Halo might have a promising drug candidate—an experimental pill whose main ingredient was derived from an herb that’s been used in Chinese medicine since 4730 B.C.

Before we review this unusual story of drug development, let’s take a closer look at this week’s news. Halo’s new round of financing consists of traditional grants, plus notes ...


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