Aegle Therapeutics, a biotech startup that sprouted from IP licensed from the University of Miami, now will proceed to its first clinical trial, helped by a $4 million round led by Boca Raton-based New World Angels. Orlando-based DeepWork Capital, existing investor Ocean Azul Partners of Coral Gables as well as Tellus BioVentures and DEFTA Healthcare Technologies participated in the round.
Aegle, led by CEO Shelley Hartman and based at CIC Miami, is developing a stem cell therapy platform technology initially to treat a rare pediatric skin blistering disorder called Dystrophic epidermolysis bullosa, as well as severe dermatological conditions including burns.
Aegle believes its platform technology has a broad range of potential indications. Aegle’s technology is based on decades of work conducted by Dr. Evangelos Badiavas, Aegle’s founder and chief scientific officer.
“Aegle’s science is unique and exciting, potentially offering relief to the many children devastated by DEB and those suffering from severe burns,” said Dr. David Schimel, an NWA member who will join Aegle’s board.
About a third of the investments in NWA’s portfolio are in the medical area. New World Angels is a group of 63 accredited angel investors in Florida that has invested more than $24 million in startup companies. NWA’s investment in Aegle was $790,000.
Aegle (pronounced like Egg-Lee) expects to begin a Phase 1/2a trial in the first half of 2020, Hartman said. Aegle has operations in Miami and Boston.
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