An early stage biotech startup focused on treating people who have trouble sleeping is looking for investors to provide $2.75 million.
GliaCure Inc. was founded in 2011 to develop novel ways to treat sleep disorders. Its technique involves modulating the body’s production of a sleep-promoting compound called adenosine made by astrocytes, star-shaped glial cells in the brain and spinal cord, according to BioCentury.
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Listed in a recent filing with the U.S. Securities and Exchange Commission are Philip Haydon, the chairman of neuroscience at Tufts University, and Michael Szulczewski, the CEO of microscope maker Prairie Technologies.
The startup, located in Middleton, Wisconsin, has already raised $1 million from 5 investors, according to the filing. Business manager Yolanda Haydon said no further information about the company could be provided until the financing was completed, probably this spring.
High competition and cheaper versions of key drugs like Lunesta, Paxil and Ambien are expected to keep the $3.5 billion sleep disorder therapeutics market relatively flat over the next five years, according GBI research.
[Photo from David Castillo Dominici]
