Machavert closes a first tranche of A Round financing of $2.2M
Machavert has raised $2.2 million to complete the second phase of its effort to establish a fully equipped and staffed drug discovery laboratory in Colorado. In this phase the goal is to expand our internal capabilities in biology, as well as to complete preclinical anti-cancer efficacy research goals.
This round of financing follows the seed stage funded with $1M in which Machavert established a wet-chemistry synthetic lab to produce intellectual property that saw compelling biology results obtained from external research organizations. After these positive results and the additional financing, we look to continue accelerating the development of the most promising compounds, broaden our portfolio of drug candidates and their applicability, and expand our understanding to their underlying biology and mechanism of action.