February 3, 2014
FOR IMMEDIATE RELEASE
Dignify Therapeutics Receives Support from the North Carolina Biotechnology Center
RESEARCH TRIANGLE PARK, NC (RTP) – FEBRUARY 3, 2014 – Dignify Therapeutics LLC, a Triangle-based virtual drug development company focused on restoring bladder and bowel control to people with spinal injury, spina bifida, and other neurological conditions, announced today a Company Inception Loan award from the North Carolina Biotechnology Center (NC Biotech).
Dignify Therapeutics is developing novel pharmaceutical treatments to treat bladder and bowel dysfunction in people with spinal cord injury, spina bifida, multiple sclerosis, and other neurological conditions. “This initial loan was critical to advancing our intellectual property and preparing our SBIR grant applications,” commented Dr. Ed Burgard, Vice President of Dignify Therapeutics. “Furthermore, the rigorous examination of our business plan during their review process provides a measure of external assurance and increased confidence for subsequent private investors. NC Biotech support provides the foundation upon which Dignify Therapeutics will build our clinical development programs to restore voluntary control of excretory function for people in desperate need.”
“Investment in, and support of, promising North Carolina life science companies is a key part of our mission” commented Joseph Nixon, Sr. Director of Business Development at NC Biotech. “Dignify Therapeutics has a highly experienced management team in regards to both biotech start-ups and pharmaceutical development. The company’s focus on areas with clear unmet medical need increases the likelihood that it will be able to attract capital from government grants, philanthropic organizations, and private investors. We are hopeful that our investment will help position Dignify Therapeutics for such funding, thereby providing a positive return for the people of North Carolina and helping to progress much needed therapies to patients with spinal conditions.”
About Dignify Therapeutics LLC
Founded by a team of serial entrepreneurs who are internationally-recognized scientists and clinicians, Dignify Therapeutics’ mission is to provide safe and effective, practical and convenient, “on-demand” pharmaceutical agents to treat bladder and bowel voiding dysfunctions, using a “repositioning” strategy of drug discovery that the team has successfully implemented multiple times over the last 20 years in the fields of urology and gastroenterology. Funding to the Company has been provided by the North Carolina Biotechnology Center, an entity primarily funded by the State of North Carolina.
About the North Carolina Biotechnology Center
The North Carolina Biotechnology Center is the oldest new-tech organization of its kind in the world. The mission of NCBiotech is to provide long-term economic and societal benefits to North Carolina through support of biotechnology research, business, education and strategic policy statewide. The General Assembly funds NCBiotech as a private, non-profit organization dedicated exclusively to biotechnology development. NCBiotech is headquartered in Research Triangle Park, with regional offices in Asheville, Greater Charlotte, Winston-Salem, Greenville and Wilmington.
North Carolina Biotechnology Center