AmideBio receives $575,000 in funding

BOULDER – Biotech company AmideBio LLC said Wednesday it has received $575,000 in new equity funding from a group of private investors.

AmideBio will use the money to continue to develop the various biological substances it makes called peptides, the company said in a press statement. The peptides – including ones used in Alzheimer’s research – are made using licensed technology from the University of Colorado.

Misha Plam, company president and chief executive, declined to identity the group of investors.

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“Our expertise and novel peptide manufacturing technology provide AmideBio with several advantages over traditional synthetic or recombinant methods,” Plam said. “(They) allow the efficient production of difficult-to-produce peptides with better quality, higher yields and overall better economics.”

The Beta-Amyloid substance has been given to Alzheimer’s research scientists for free in recent months. The protein is a plaque found on the brain of people who die of Alzheimer’s disease.

AmideBio’s manufacturing process lowers the cost of making peptides and improves product purity, the company said in the statement. The new process can be used to “rescue” abandoned drug candidates that previously failed in development because there was no way to create a viable manufacturing process for them, the company said.

Separately, AmideBio licensed a related product in which a protein in the brain is affected by amyloid. Researchers think the protein may be related to how Alzheimer’s patients develop memory loss.