ATLANTA (PRWEB) August 30, 2021
Moonlight Therapeutics Inc. announced today it has raised additional funding from SeedtoB Capital, an Atlanta-based healthcare venture fund launched by Shantanu Nigam and Ritesh Sharma, formerly co-founders of Jvion.
Moonlight Therapeutics focuses on developing safe, effective, and patient-friendly treatments for people suffering from food allergies, a group that represents over 30 million individuals in the United States alone. Its proprietary treatment platform, TASIS — Targeted Allergen-Specific Immunotherapy within the Skin — involves the application of a small, minimally invasive dermal stamp to target the delivery of allergens to the skin’s immune cells to desensitize someone from a food allergy. The dermal stamp is removed within a few minutes of application and the administration is complete. Moonlight’s lead program focuses on a treatment for peanut allergies.
“This additional funding will take us further down the path of completing preclinical research and bringing our treatment to the clinic setting,” said Samir Patel, Moonlight Therapeutics co-founder and CEO. “We’re excited to partner with SeedtoB Capital given their deep expertise in the healthcare space, and conviction in our mission to create a meaningful therapy for those suffering from food allergies.”
“Food allergies negatively impact quality of life for millions of individuals, including children,” said Ritesh Sharma, managing partner at SeedtoB Capital. “The Moonlight Therapeutics team is striving to address this issue with a novel and minimally invasive treatment that has the potential to improve countless lives. We’re thrilled to welcome them to our portfolio.”
In addition to this new investment, Moonlight Therapeutics recently announced receipt of an additional $1.9 million in funding for preclinical studies and product development. This funding was awarded through a Phase 2 Small Business grant from the National Institute of Allergy and Infectious Diseases (NIAID), a division of the National Institutes of Health (NIH).
About Moonlight Therapeutics
Based in Atlanta, Ga., Moonlight Therapeutics is an early-stage biotechnology company developing targeted, allergen-specific immunotherapy treatments for food allergies. Food allergies are estimated to affect more than 30 million people in the United States. Moonlight uses its proprietary platform, TASIS, to target the delivery of allergens to immune cells in the skin. This technology was invented at Texas Tech University. TASIS can be used to deliver individual or combinations of allergens to treat multiple allergies. The company was founded in 2017 and is supported by the Georgia Research Alliance. To learn more, visit moonlighttx.com.
About SeedtoB Capital
SeedToB Capital invests in early-stage businesses driving adoption of innovative technology within the healthcare ecosystem. The firm was founded by Ritesh Sharma and Shantanu Nigam, serial entrepreneurs who founded Jvion and quickly grew it into the nation's largest clinical AI company. SeedToB Capital is uniquely focused on helping entrepreneurs navigate the complexities of the healthcare space and chart the most efficient path toward Series B – and ultimately, company success. To learn more, visit seedtob.com.