Resolve Therapeutics, a 2-year-old Seattle biotechnology spin off from the University of Washington, has raised $5.8 million in new financing from New Science Ventures, WRF Capital and Easton Capital. The company will use the funds to continue to develop therapeutics for the treatment of Lupus, a life-threatening autoimmune disease that affects 1.5 million people in the United States and over 5 million patients worldwide.
According to the Mayo Clinic, Lupus is a disease that occurs when “your body’s immune system attacks your own tissues and organs.”
Resolve is led by James Posada, the former was the senior vice president of business and market development for GlycoFi. Before that, he worked with Eli Lilly & Company.
“These funds give Resolve the necessary resources to advance our investigational lupus compound RSLV-132 into clinical trials, which we expect to start in mid-2013,” said Posada in a press release. “We are excited about this novel new approach to treating lupus, which eliminates the immune complexes that represent one of the central causes of the disease. More importantly, the leading pharmaceutical companies are excited by it as well, which portends a bright future for Resolve.”
University of Washington researchers Keith Elkon and Jeff Ledbetter also are involved in the company.