The Vienna based startup G.ST Antivirals has been able to secure a first financing round in the mid six digit range from a group of investors led by IST cube.
G.ST Antivirals was spun out from the Medical University of Vienna in 2019 and focuses on the development of antiviral drugs. Their innovative approach builds on the strategy to interrupt the virus’ supply of essential building blocks within the human host cell. In this way the virus is essentially starved and cannot replicate any more.
Right now the startup focuses on the development of products against respiratory viruses that cause the common cold, and has recently announced a collaboration with Takeda to jointly investigate the antiviral products against COVID-19. With the freshly raised capital the company will extend its pipeline while preparing to enter a phase 1 clinical trial with its first drug candidate, 2-deoxyglucose.
Dr. Guido Gualdoni, co-founder and CEO of G.ST Antivirals, says “The development of new concepts for antiviral therapies appears more urgent than ever. With our investors we have gained a strong base with excellent know-how and international networks. With the fresh funding, an extended team and new labs, GST Antivirals is entering a new phase in its development. We are now in a position to fully focus on the development of our therapy concepts. Our goal is to offer patients access to the resulting drugs as soon as possible.”
Dr. Alexander Schwartz from lead investor IST cube explains: “We have known G.ST Antivirals for several months and quickly became convinced by the strong founders and the unique scientific approach to treat antiviral diseases. We wish the company success in adding direly needed new antiviral compounds to the repertoire of medical drugs. In times like these, we realize just how much we rely on scientific progress and start-ups that bring them to life. That is why IST cube continues to invest and work with start-ups during the crisis.”
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
