Mark Gurney GRAND RAPIDS, MI - Tetra Discovery Partners,[1] a Grand Rapids company working to develop drugs to treat Alzheimer's disease and traumatic brain injury, announced it has received more than $1 million in new funding.
Tetra said the investment will help with the development of a drug to treat cognitive impairment caused by Alzheimer's and a drug to treat depression and restore cognitive function after a traumatic brain injury.
The $1 million seed investment was led by venture capital firm Grand Angels. Funding sources include the Biosciences Research & Commercialization Center, which invests in Michigan-based life sciences ventures; and the Michigan PreSeed Capital Fund.
The Michigan Emerging Technology Fund provided funding as a match to the recent $3 million Phase II SBIR award Tetra received from the National Institute of Mental Health.
Tetra if researching drugs to inhibit phosphodiesterase 4 (PDE4), a brain enzyme that controls the biochemical process of memory.
Jody Vanderwel, Grand Angels president, praised the innovations led by Tetra and its founder and chief executive officer, Mark Gurney.
“Mark and the Tetra team are changing the face of Alzheimer’s research and working on some truly industry-changing breakthroughs right here in Grand Rapids," he said.
Sue Thoms covers health care for MLive/The Grand Rapids Press. Email her at sthoms1@mlive.com[2] or follow her on Twitter[3] , Facebook[4] or Google[5] +.
References
- ^ Tetra Discovery Partners, (www.mlive.com)
- ^ sthoms1@mlive.com (www.mlive.com)
- ^ Twitter (twitter.com)
- ^ Facebook (www.facebook.com)
- ^ Google (plus.google.com)
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