BioKier Lands $1.7M from AHA, Foundation

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Chapel Hill bioscience company BioKier has leveraged early loan support from the North Carolina Biotechnology Center into a $1.7 million funding package.

Broadview Ventures and the American Heart Association’s Science & Technology Accelerator Program have invested in BioKier’s unique approach to treat Type 2 diabetes, also known as noninsulin-dependent diabetes.

BioKier’s proprietary technology is being developed with the help of a $250,000 Small Business Research Loan from NCBiotech in 2010 and a $250,000 Strategic Growth Loan in 2013. It’s based on the well-accepted observation that gastric bypass surgery for weight loss, also known as bariatric surgery, substantially improves or even resolves Type 2 diabetes, within days, for 80 to 90 percent of diabetes patients. The surgery has the same effect when performed on patients who are diabetic but not obese.

BioKier’s orally administered compound is designed to produce similar gastrointestinal changes and anti-diabetes benefits without the physical trauma or cost of surgery.

Diabetes is a global problem affecting millions of people world-wide and costing billions of dollars. Currently available therapies, while effective in delaying progression of diabetes, are far from ideal and there is an unmet need for new and especially safer drugs.

“Funds provided by Broadview and the American Heart Association will allow us to conduct two preliminary clinical trials and initiate very important work on formulation development,” said George Szewczyk, Ph.D., BioKier CEO and scientific founder.

“It was gratifying to BioKier that two investors with demonstrated expertise in the cardiovascular disease area and a national investment perspective recognized the potential that BioKier’s approach may offer patients afflicted with diabetes, particularly as it relates to the cardiovascular risk associated with diabetes.”

Broadview Ventures is a venture philanthropy founded in 2008 by the Leducq Family Trust to support early stage ventures that show promise in accelerating new technologies to battle cardiovascular and neurovascular disease.

BioKier and the American Heart Association were among participants in the first Southeast Venture Philanthropy Summit organized by NCBiotech in April 2013. The Chapel Hill event brought together more than 30 venture philanthropy foundations and 300 people for 150 one-on-one partnering meetings and other activities. It was co-hosted by NCBio, BioFlorida, Georgia Bio, Southeast Bio and Virginia Bio.

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