Madison, Wisconsin, biotechnology company Quincy Bioscience has received an undisclosed “capital infusion” from DaneVest Tech Fund I, an investment group in its hometown.
Quincy Bioscience has patented the use of a jellyfish protein called aequorin to treat disorders that result from excess calcium in the brain, such as Alzheimer’s disease.
However, the company will use its DaneVest Tech Fund money to help support national sales of its Prevagen Brain Cell Protection dietary supplements, which are supposed to combat memory loss, it said in a press release.
Though it has yet to get its brain cell protection drug into Phase 1 trials, Quincy Bioscience is far from the typical young biotech on a shoestring budget. Not only does the company have an unusual technology, but its technology is being marketed as an over-the-counter dietary supplement.
So Quincy already has sales rolling in, and thanks to that revenue and about $5 million in angel funding, had grown to 43 employees by late July.
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