Tuesday, March 25, 2014

Aeglea BioTherapeutics, Fresh Off $12M Round, Joins ATI

Austin-based Aeglea BioTherapeutics, fresh off a big, $12M funding round for the biotech startup, has become part of the Austin Technology Incubator, the two said Monday. Aeglea BioTherapeutics, which is developing cancer fighting drugs, announced $12M in a funding round from Lilly Ventures and Novartis Bioventures back in February. Aeglea BioTherapeutics is a spinout of the University of Texas, Austin. Aeglea is led by David G. Lowe, Ph D. The company said the new funding is going towards adding new staff, conducting research and manufacturing for its lead drug, and preparing for the first phase of clinical trials. Aeglea's technology came out of the research of George Georgiou, Ph.D., Cockrell Endowed Chair Professor in the departments of chemical engineering, biomedical engineering, and molecular biosciences, and Everett Stone, Ph.D., research scientist. More information »