SC Launch Inc. Announces Investment in MitoChem Therapeutics
Summary
MitoChem has also been a long-term tenant at SCRAs Innovation Center in Charleston.Founded at the Medical University of South Carolina, MitoChem Therapeutics was started by two scientists who saw an opportunity to focus on developing treatments to address the effects of cellular and metabolic dysfunction in neurodegenerative conditions, specifically eye diseases.MitoChem identified a key driver in vision loss and developed a new class of small molecules to treat neurodegeneration by protecting mitochondria, the powerhouse of the cell. They are pin-pointing metabolic and oxidative stress caused by aging, genetics, or environmental factors, said Will Cruz, SCRA investment manager.The visual system ranks among the highest in the body for energy consumption. SCRA and SC Launch Inc. have entrusted their support to us because they understand this groundbreaking work is bringing world-class expertise to the treatment of eye diseases, said Michael Voevodsky, MitoChem Therapeutics president and CEO.Eye diseases represent a significant and growing untreated patient population, and MitoChems development will be able to treat many of these patients with a patient-friendly topical delivery, said Bob Quinn, SCRA executive director. MitoChem is simultaneously enabling studies for the treatment of several eye disorders including retinitis pigmentosa, age-related macular degeneration, and glaucoma.MitoChem was recently featured at the Mitochondrial-Targeted Drug Development Summit in Boston. The independent nonprofit corporation provides convertible loans and equity investments to selected South Carolina-based companies participating in the SC Launch program.