A drug discovery startup that lays claim to “the largest chemical libraries in the world” has raised $600,000 in equity, according to a regulatory filing.
Pittsburgh-based Carmolex says its library contains compounds “never seen before,” giving it an advantage over competitors whose libraries are biased toward historical targets.
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Similar to some clinical research organizations, Carmolex operates its drug-discover projects on a fee-for-service model.
While the company performs design and computational work at its Pittsburgh headquarters, its synthetic chemistry services are done in China and India.
CEO Rafael Velez didn’t return a call.
Other principals with the company include: Alexander Domling, chair of drug design at the University of Groningen in the Netherlands, and Carlos Camacho, a University of Pittsburgh biology professor.
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The company has not previously filed any fundraising documents.
The $600,000 in funding was sourced from one investor, according to the regulatory document.
