Fund invests in drug tests
The SeedStep Angels and the OKAngel Sidecar Fund, managed by i2E Inc., recently closed a $400,000 investment in Oklahoma City-based Altheus Therapeutics, a company that has developed a combination therapy for ulcerative colitis. The investment was a secondary closing of a Series B financing round, the first of which included the Oklahoma Seed Capital Fund, totaling $3 million. Altheus Therapeutics is in a Phase 2 clinical study of Zoenasa, the therapy it developed for inflammatory bowel diseases that combines two previously FDA-approved medications to treat a disease that affects more than 2 million people worldwide. The potential of the Zoenasa combination was discovered by Dr. Richard Harty, former chief of gastroenterology at the University of Oklahoma Health Sciences Center and the company's chief scientific officer.
FROM STAFF REPORTS