ST. LOUIS, MO--(Marketwire - February 04, 2011) - Mobius Therapeutics™, LLC, a St. Louis-based ophthalmic company and developers of Mitosol today announced the company has been awarded an investment from St. Louis-based life sciences organization, BioGenerator. The investment will be used by Mobius Therapeutics to hire additional employees to execute the commercial launch of the product. The funding also ensures Mobius Therapeutics will remain in St. Louis.
"I am pleased that BioGenerator sees the value of Mobius Therapeutics and our unique glaucoma treatment system," said Ed Timm, President of Mobius Therapeutics. "This investment from BioGenerator will help us positively impact the lives of hundreds of thousands of glaucoma patients for years to come."
BioGenerator is privately-funded organization that has been supported historically through contributions from organizations such as the McDonnell Foundation, Danforth Foundation and the Monsanto Fund. They conducted a thorough due diligence review of Mobius Therapeutics before awarding the investment. BioGenerator has recently invested in other St. Louis companies including Akermin, Cardialen, Pulse Therapeutics, Nawgan and Galera.
"We identified Mobius Therapeutics as an emerging business with a solid plan, not only to help glaucoma patients, but to contribute to and grow our local economy," said Dan Broderick of BioGenerator. "We are proud to help a growing, St. Louis-based small business who is clearly focused on creating jobs and improving patient outcomes."
About Mobius Therapeutics, LLC:
Mobius Therapeutics is an early stage venture focused on ophthalmic surgery solutions. Its first product, Mitosol, is a system for delivering antifibrotic agents in glaucoma, refractive, and corneal surgery. It is awaiting regulatory approval, with additional product applications in earlier stages of development.
BioGenerator is a privately funded, non-profit organization created to facilitate the formation of life science companies in the St. Louis area. Founded in 2003, BioGenerator's mission is to support economic development for the St. Louis region, to identify promising life science technology, and to build successful, sustainable life science companies.