Date: Feb 05, 2019 Author: Nick Williams Source: biz journals (
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Madison biopharmaceutical company Dianomi Therapeutics Inc. has received a $3 million investment from Ligand Pharmaceuticals Inc. (Nasdaq: LGND), according to a release from the San Diego-based, multimillion-dollar company.
In addition to capital, Ligand is providing technical and scientific advisory assistance to Dianomi for one year.
Founded in 2017, Dianomi Therapeutics is developing next-generation treatments for inflammatory diseases. The company's mineral-coated microparticle technology was developed at the University of Wisconsin-Madison by professor William Murphy, who is also co-founder and chief scientific officer at Dianomi. THE MCM technology mimics the ability of human bones and teeth to preserve and control the release of drug molecules without loss of function, according to the company.
The technology was licensed from the Wisconsin Alumni Research Foundation, UW-Madison's patent and licensing arm.
"We are pleased to invest in Dianomi as the company works to develop therapeutics using its microparticle technology," said John Higgins, CEO of Ligand, in a statement. "MCM has a broad range of applicability as well as the potential to improve and extend many of the therapeutic benefits of both novel and existing drugs, similar to Ligand's captisol technology. This investment helps fund a promising company and will provide potential royalties to Ligand on products that could complete development in the next several years and generate revenue into the late 2030s."