Seattle-based biotech startup Immusoft raised another $4.5 million and landed a $467,000 NIH grant to help further development of its drugs that treat genetic diseases.

Founded in 2009, Immusoft develops immune cell technology that uses blood cells from a patient to create therapeutic proteins targeted to treat diseases. Its lead candidate, ISP-001, treats Mucopolysaccharidosis type I, or MPS I, and has both orphan drug and rare pediatric disease designations from the FDA.

Investors in the new round include previous backers Ikarian Capital, Mesa Verde Venture Partners, and Breakout Ventures.

Sean Ainsworth, a veteran biotech executive, leads the company as CEO. In 2018 he replaced founder Matthew Scholz. Ainsworth previously founded gene therapy company RetroSense Therapeutics, which sold to Allergan in 2016 in a deal worth up to $555 million.

The number of consumers using telehealth has increased 4x in 2020 vs 2019. This surge in virtual care brought on by the pandemic has catalyzed an era of expansive care distribution and decentralization. Swift changes in how care is delivered is creating a greater need for systems to adopt flexible digital models for patients to access care outside traditional brick-and-mortar health care facilities. Learn more about tech’s critical role in this shift, and the opportunities for innovation associated with this acceleration of distributed care due to COVID-19.

Visit Providence DIG’s Resource Center to Access its COVID-19 Digital Insight Report: Distributed Care & Digital Health Acceleration

Source: https://www.geekwire.com/2020/seattle-gene-therapy-biotech-startup-immusoft-raises-4-5m/

News – Seattle gene therapy biotech startup Immusoft raises $4.5M