May 2019: Accelero Biostructures, Inc. has received additional non-dilutive funding from the National Institutes of Health (NIH) under the Small Business Innovation Research (SBIR) Phase II program
San Francisco: May 2019
Accelero Biostructures, Inc., has received additional non-dilutive funding from the National Institutes of Health (NIH) under the Small Business Innovation Research (SBIR) Phase II program. Accelero Bio has developed novel technologies and tools for accelerating structure-based drug discovery using its deep expertise in high-throughput protein X-ray crystallography.
“We are very excited to receive this additional highly competitive Phase II funding from NIH, which cements our R&D and business plans enabling us to advance our mission to drive early drug discovery to develop new medicines to help people around the world”, said Debanu Das, Co-Founder and CEO.
The funds will be used to complete development of the Accelero Biostructures ABS-OneStepTM platform to discover novel leads for developing new therapeutics. X-ray crystallography is the gold standard for determining the exact binding orientation of molecules, which is an essential step in this process.
Accelero Biostructures was formed in January 2015 with support from the University of California’s QB3 program and is now in its 5th year of operations. “We aim to dramatically increase the efficiency and reduce the cost of developing novel lead molecules for preclinical testing. Our platforms help in providing additional tools and technologies to the company’s customers and partners.”, said Ashley Deacon, Co-Founder and CSO.