SAN DIEGO & SHANGHAI, June 15, 2020 /PRNewswire-PRWeb/ -- Elgia Therapeutics, a biotechnology company that aims to eliminate low-grade inflammation, today announced seed funding that will accelerate the development of novel treatments for chronic inflammatory and fibrotic diseases.
The funding was led by Viva BioInnovator, the specialized investment and incubation arm of Shanghai-based Viva Biotech Holdings, with participation from ChangRong Capital.
"Elgia Therapeutics is committed to developing novel drugs for the treatment of chronic inflammatory and fibrotic diseases. We're delighted to welcome new investors as we pursue this mission." said Professor Alan Saltiel, Chief Executive Officer of Elgia Therapeutics. "Effectively combating low-grade inflammatory diseases like NASH will require drugs that directly and specifically target energy imbalances, focusing on the genes/proteins that are specific effectors of pathological pathways responsible for sustaining lipid accumulation, fibrosis and cellular death."
"It is gratifying to see that our cutting edge science and technology attracts interest and investments." added Professor Ariel Feldstein, Chief Scientific Officer of Elgia Therapeutics. "This capital infusion from Viva BioInnovator is a good harbinger of the regard for our science from the innovation partnership community."
Dr. Zhixiong Ye, Chief Scientific Officer of Viva Biotech, said: "Elgia has world-leading scientists in the biology of innate immunity, inflammation and wound healing responses. We are delighted to partner with them to develop novel treatments for chronic inflammatory and fibrotic diseases."
About Elgia Therapeutics
Elgia Therapeutics is a newly established venture-backed biotech company pursuing novel approaches for the treatment of chronic inflammatory and fibrotic diseases. Elgia was founded by UCSD and UCSF scientists Alan Saltiel, Ariel Feldstein, Michael Karin, Michelle Arkin, and Adam Renslo, who are world leaders in the biology of innate immunity, inflammation and wound healing, as well as in the biochemistry and pharmacology of key enzymes that control inflammation and cell demise. Leveraging the expertise of our founders, Elgia will use high throughput chemical screening coupled with structure-based design to discover and develop novel inhibitors of these targets. Visit Elgiatherapeutics.com for more information.
About Viva BioInnovator
Viva BioInnovator (VBI) is the investment division of Viva Biotech Holdings (1873.HK). We are solely dedicated to the identification and success of early-stage biotech start-ups for Viva's incubation, equity-for-service, and investment platforms. Our commitment is to operate a collaborative platform for innovative biotech companies from around the world, and for anyone aiming to develop an idea with transformative or strong potential. Visit vivabioinnovator.com for more information.
SOURCE Elgia Therapeutics