Iaso Therapeutics Announces First Close in $1.25M Equity Series Seed Preferred Financing
Michigan State University biotechnology startup accelerates commercialization of novel protein carriers for vaccine development
EAST LANSING, Mich., Jan. 25, 2023 /PRNewswire/ -- Iaso Therapeutics, a Michigan State University startup developing novel technologies for next-generation vaccines, recently closed the first tranche of the company's $1.25M Series Seed Preferred round of financing.
Proceeds from the funding will be used to advance Iaso's customizable drug delivery and vaccine platform based on bacteriophage mQ to boost immune system responses against weakly immunogenic antigens.
Participating in the round was the Michigan Rise Pre-Seed III Fund, Red Cedar Ventures Pre-Seed Fund and Michigan-based angel investors. Iaso Therapeutics is also eligible to receive up to $125K in funding from the Michigan Small Business Development Center and Michigan Economic Development Corporation's Emerging Technology Fund, leveraging a successful National Science Found Phase II SBIR grant in March 2022.
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