RESEARCH TRIANGLE PARK, N.C., Aug. 18, 2015 /PRNewswire/ -- Phoundry Pharmaceuticals, Inc., an RTP, North Carolina-based company focusing on the discovery of peptide therapeutics, announced today that it has successfully completed its first seed financing, putting it in position to advance its discovery and partnering plans.
Phoundry was recently incorporated following the retrenchment of some of GlaxoSmithKline's RTP-based R&D programs and infrastructure. Most of its personnel originate from GSK's Enteroendocrine Discovery Performance Unit, including the leadership and specialized peptide chemistry, biology, and drug metabolism and pharmacokinetic expertise.
The company was co-founded by six scientists from GSK's unit, including Paul Feldman (CEO), Andrew Young (CSO), Ved Srivastava, Mark Paulik, James Way and Shane Roller. The scientific founders' track record includes eight drug products, including exenatide, pramlintide and three other peptide therapeutics, as well as over two dozen phase 2 clinical-stage assets.
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