Indiana University Philanthropic Venture Fund has made its tenth investment, putting $200,000 into Confluence Pharmaceuticals.
Confluence Pharmaceuticals, a US-based developer of therapies for fragile X syndrome and autism spectrum disorder, has received $200,000 from the Indiana University Philanthropic Venture Fund.
The fund is operated by Indiana University Research and Technology Corp (IURTC), the fund management firm of Indiana University, and invests in university-affiliated companies.
Confluence Pharmaceuticals is working on therapies for core social and communication impairments related to fragile X syndrome and autism spectrum disorder.
Its lead candidate is aimed at people living with fragile X syndrome to improve communication, social interaction and self-care. The company has licensed its technology from Indiana University through the IU Innovation and Commercialization Office.
Steve Johns, chief executive of Confluence Pharmaceuticals, said: “Today, no medication exists to treat these core impairments. Early pilot studies have demonstrated the potential of our product to improve focus, communication, social withdrawal and attention deficit hyperactivity disorder.”
Confluence Pharmaceuticals will use the investment to accelerate clinical development and regulatory activities.
Teri Willey, fund manager of IU Philanthropic Venture Fund and executive director of IURTC, said she was “delighted to be supporting the team at Confluence in their efforts to bring this critical therapy to patients, and to have Confluence as our tenth investment since launching the fund a few months ago.”
