Local biotech Abreos Biosciences has closed $1.2 million in new funding, the company announced Tuesday.
The latest round came from existing investors, as well as new investor TLP Investment Partners LLC. The cash will be used to speed commercialization and business development efforts, according to a company spokesperson.
This isn’t the first round of cash for Abreos. In July 2016, the company raised $725,000 in a seed round led by Triton Technology Fund, a UC San Diego alumni-led venture capital fund.
Founded in 2013 at UC San Diego by Dr. Bradley Messmer (CEO) and Dr. Thomas Kipps, Abreos is developing point-of-care devices that monitor the levels of biologic drugs in patients for precision dose guidance. With this capability, patients can ensure they are receiving and maintaining the right amount of these expensive medications.
“Biologics are among the most powerful therapeutics available for many serious diseases, yet many patients are under- or over-dosed due to the lack of simple monitoring tests that can tell how much drug a patient has in their blood,” Messmer said in a statement. “We are hoping to make personalized, precision dosing a reality for these patients.”
The company has developed tests for the top biologic drugs used in autoimmune and neurology disorders, and cancer.