By Elaine Rigoli
Tampa, Fla., April 6 - N-Gene Research Laboratories, Inc. has received a $3 million investment in a series B/1 round from Corvinus Venture Capital Funds Management Ltd., a fund established in October 2005 to invest into Hungarian high-tech initiatives.
Proceeds from the offering will be used to fund continued clinical development of N-Gene's lead product candidates, including BGP-15, a small molecule insulin sensitizer that has completed phase 2 clinical trials in Hungary, and NG-SUN, a photoprotection and anti-aging compound in phase 1/2 clinical trials in Germany and France.
N-Gene, based in New York, is a biopharmaceutical company developing drugs for the treatment of insulin-resistance syndrome and other metabolic conditions.
| Issuer: | N-Gene Research Laboratories, Inc.
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| Issue: | Series B/1 round
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| Amount: | $3 million
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| Investors: | Corvinus Venture Capital Funds Management, Ltd.
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| Announcement date: | April 6
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