Glauconix Biosciences News Release: Specialty Pharma research company Glauconix Biosciences secures significant investment from Excell partners inc
The second investment as part of their seed round to further enable
Glauconix’s unique advancements in ocular R&D
Albany, NY, May 29, 2018– Glauconix Biosciences announced today that it has raised $100,000 from Excell Partners Inc. The specialty pharma company, which is a START-UP NY participant based at SUNY Polytechnic Institute in Albany, NY, will be able to further accelerate glaucoma drug development as a result of the investment, as they continue to focus on their innovative 3D ocular tissue technology. This marks the company’s second investment towards completion of their seed round.
“This investment signifies an important step forward in the growth of Glauconix Biosciences and will help us in the development of our second commercial offering,” said Dr. Feryan Ahmed, Glauconix Biosciences CO-Founder and COO.
Excell Partners joins the Eastern New York Angels investment fund as investors in Glauconix-Biosciences Inc., which began as a SUNY Poly Ph.D. student-led startup and has since grown into a company with research and capabilities that are relied upon by other globally recognized pharmaceutical corporations. In 2015, the company partnered with SUNY Poly to join New York State’s START-UP NY program, which offers tax-free status to growing companies that collaborate with academic institutions.
“Glauconix is a great example of New York grown innovations that can revolutionize the way we understand and deliver eye-care to the entire world. Excell was entrusted by Empire State Development (ESD) to help ventures like Glauconix. The funds will help Glauconix, a woman and minority-led business, generate returns by improving our health,” said Rami Katz, Excell Partners COO.
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Glauconix’s 3D tissue system can reduce the risk of clinical trial failure, saving time, labor and development costs. Early identification and validation of effective compounds or biologics allows partners to confidently enter clinical trials. To learn more about Glauconix Biosciences, visit www.glauconix-biosciences.com
Excell Partners is a venture capital fund that invests in seed and early stage high tech startups primarily in Upstate New York, with the dual mission of generating investor returns and supporting economic development and job creation. Excell's Portfolio includes investments in medical device, materials, energy, biotech, agtech, imaging, and IT/software ventures across New York State. To learn more about Excell Partners, visit www.excellny.com.
New York Ventures, the venture capital investment arm of ESD, is dedicated to encouraging innovation and fueling economic growth in communities across the state.
Empire State Development is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing START-UP NY and other economic development programs and initiatives. For more information on ESD, please visit www.esd.ny.gov.
SUNY Poly is New York’s globally recognized, high-tech educational ecosystem. SUNY Poly offers undergraduate and graduate degrees in the emerging disciplines of nanoscience and nanoengineering, as well as cutting-edge nanobioscience and nanoeconomics programs at its Albany campus, and undergraduate and graduate degrees in technology, including engineering, cybersecurity, computer science, and the engineering technologies; professional studies, including business, communication, and nursing; and arts and sciences, including natural sciences, mathematics, humanities, and social sciences at its Utica/Rome campus; thriving athletic, recreational, and cultural programs, events, and activities complement the campus experience. As the world’s most advanced, university-driven research enterprise, SUNY Poly boasts billions of dollars in high-tech investments and hundreds of corporate partners since its inception. For information visit www.sunypoly.edu.
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