Prolocor Announces $1.7 Million in Bridge Funding

27 Feb 2024
www.biospace.com
Green Park & Golf Ventures and Labcorp continue to demonstrate ongoing commitment to Prolocor initiatives. Funding will be used for ongoing clinical program and commercialization in 2024. PHILADELPHIA, PA / ACCESSWIRE / February 27, 2024 / Prolocor, Inc., a healthcare startup developing an innovative precision diagnostic test with the potential to predict the risk of thrombosis by quantifying FcγRIIa (pFCG test), today announced that they have successfully raised $1.7 million in bridge financing. The financing included significant participation by Green Park & Golf Ventures (GPG Ventures) and by the Labcorp Venture Fund. Prolocor Logo Dr. Clay Heighten, Managing Partner at GPG Ventures, remarked, "We are encouraged by the impressive progress that the team at Prolocor is making. We look forward to the continued development of this important marker and the results of their ongoing clinical trials." Dr. Peter DiBattiste, Co-Founder and CEO of Prolocor shared, "We have completed the enrollment of our 800 patient acute coronary syndrome (ACS) trial at 25 nationally recognized hospitals and completed an interim analysis of this confirmatory study in September 2023. In addition, our Co-Founder and CSO Dr. David Schneider and his lab team have confirmed the precision, accuracy, and specificity of the unique pCFG test. We sincerely appreciate GPG Ventures and Labcorp's ongoing support." "We are very excited about the advancement being made by the Prolocor team and the important work they are doing to advance their innovative test to help predict risk of thrombosis," said Megann Vaughn Watters, Vice President, New Venture & Strategic Alliances, Labcorp. "The Prolocor pFCG test provides powerful prognostic information leveraging a novel approach. The test is performed on fixed platelets removing a major technical limitation of platelet assays," said Co-Founder and CSO Dr. David Schneider. There are 50 million people living with chronic coronary artery disease in the U.S., Europe, and Japan. Of these, over two million suffer from acute coronary syndrome every year. In each case, the doctor and patient must decide whether to use more powerful therapy to reduce the risk of thrombosis - increasing the risk of bleeding - or less-intensive therapy - reducing bleeding risk at the expense of more thrombotic events such as heart attack, stroke, and cardiovascular-related death. The prognostic tool being developed by Prolocor will help guide treatment decisions, effectively matching the intensity of therapy with the risk of events. ABOUT PROLOCOR, INC. Founded by a team that deeply understands thrombosis and cardiovascular disease, Prolocor is building its strategy around platelet FcγRIIa and embarking on a journey to commercialize an innovative precision diagnostic test that quantifies FcγRIIa on the surface of platelets. For more information on Prolocor, please visit the company's website at and follow us on LinkedIn. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans" and similar expressions. Although Prolocor's management believes that the expectations reflected in such forward-looking statements are reasonable, forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Prolocor, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, Prolocor's planned level of revenues and capital expenditures, Prolocor's available cash and its ability to obtain additional funding, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities regarding whether and when to approve any device or application that may be filed for any such product candidates and other matters that could affect the availability or commercial potential of such product candidates, the fact that product candidates if approved may not be commercially successful, the future approval and commercial success of therapeutic alternatives, Prolocor's ability to benefit from external growth opportunities, to complete related transactions and/or obtain regulatory clearances, and risks associated with intellectual property. Other than as required by applicable law, Prolocor does not undertake any obligation to update or revise any forward-looking information or statements. CONTACT info@prolocor.com Contact Information Mika Stojanovic Managing Partner, TNG Creative LLC mika@naissos.com SOURCE: Prolocor, Inc View the original press release on newswire.com.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
-
Drugs
-
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.