Azitra Inc. today announced that it has secured $2.15 million in convertible debt financing to support advancement of the company’s pipeline of dermatology and skin care products. The financing was led by new investor Connecticut Innovations, and existing investor Bios Partners. An additional new investor, KdT Ventures, joined the syndicate. This financing brings the total raised to date to $5.4 million.
“This is an exciting time for Azitra. We are preparing for first in human testing this year, demonstrating the broad utility of our platform technology for skin disease and laying the groundwork for CMC, formulation development and commercialization. We are very grateful for the continued support of Bios, and we welcome Connecticut Innovations and KdT to this syndicate,” said Richard Andrews, President and Chief Executive Officer. “This capital will provide funding for AZT-04 in human studies addressing consumer health needs, IND-enabling studies for our lead pharmaceutical candidate, AZT-01 to treat eczema and ichthyosis vulgaris, and will support our Netherton’s program (a significant orphan skin disease) as it moves to proof-of-concept.”
Azitra is focused on treating skin disease by combining the potential of the microbiome with state of the art molecular genetics. The company’s product pipeline includes pharmaceutical products to treat eczema (atopic dermatitis), ichthyosis vulgaris and Netherton Syndrome. Azitra is also developing a consumer health product designed to restore the balance of the microbiome to treat rough, dry, or sensitive skin.
“The concept of using the microbiome to address a variety of health issues shows tremendous promise,” said Dan Wagner, managing director of investments at Connecticut Innovations. “We are very impressed with the progress Azitra has made in bringing together the power of the microbiome with genetic engineering to form a technology platform that holds great potential to treat skin diseases and conditions.”
“Azitra’s microbiome-based platform offers a promising array of options for skin diseases and conditions,” said Mostafa Analoui, PhD, Executive Director, Venture Development & Technology Incubation Program, UConn. “The company is led by an outstanding scientific and business team, and it is wonderful to have them within our UConn-Technology Innovation Program (TIP) ecosystem.”