Florida Institute Provides Seed Funding to Miami-Based Insero Health
Seed-Stage Company Focused on Therapies for Epilepsy and Related Neurological Diseases
Boca Raton and Gainesville, FL – September 27, 2012 -The Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with Insero Health (insero.co), a clinical stage company that discovers and develops therapies derived from natural products to address significant unmet needs in epilepsy and related neurological diseases. The Institute works with Florida’s research universities and institutions to support new company and job growth, and the goal of this program is to bridge company funding gaps, enabling them to reach critical milestones and attract additional private investment capital.
Insero develops novel therapies for neurodegenerative diseases that will help patients better manage their condition and achieve greater control over their lives. According to founder and CEO David Kolb, “The technology licensed from University of South Florida complements key patents licensed previously from both Harvard and Yale Universities, and provides the company with a platform for developing safe and effective treatments for these debilitating diseases. Funding from the Institute is enabling us to conduct necessary trials and bring us closer to achieving our goals.”
The company is also developing a number of other novel classes of small molecule compounds focused on neurological disease applications. Insero’s first-in-class compounds each offer a unique mechanism of action with the potential to provide enhanced efficacy while improving the quality of life for patients. Insero has amassed a world-class scientific team that is advancing compounds through preclinical studies and into clinical trials with the support of the Epilepsy Research Foundation and the Anticonvulsant Screening Program of the National Institute of Neurological Disorders and Stroke (NINDS).
“The Institute’s Seed Capital Accelerator Program is critical to the development of Florida’s most promising early-stage innovation-based companies,” said Jamie Grooms, Institute President and CEO. “The program complements other economic development programs offered by the state, creating an entrepreneurial ecosystem from company formation to exit.”
About the Institute
Founded in 2007 as a non-profit organization, the Institute is Florida’s One-Stop-Shop for investors and entrepreneurs who seek to identify new opportunities based on technologies developed through publicly-funded research. The Institute delivers programs that facilitate new venture and job creation through commercially-viable technologies in major industries that are driving the global economy. The Institute also administers the Florida Research Commercialization Matching Grant Program launched in 2010, and the Seed Capital Accelerator Program launched in 2011. For more information, visit www.florida-institute.com.
About Insero Health
Founded in 2011, Insero Health is a clinical stage company that discovers and develops small molecule therapies derived from natural products to address significant unmet needs in neurological diseases. The company’s initial target is epilepsy, a debilitating seizure disorder that affects approximately 3 million people in the United States and over 50 million people worldwide. Insero researchers believe that the unique dual mechanism of huperzine may provide enhanced anti-seizure efficacy without the side effects of current therapies. Insero has licensed rights to the use of huperzine in epilepsy from Harvard Medical School and is preparing to initiate a huperzine Phase I epilepsy trial in 2012. The company is based in Miami Florida at the University of Miami Life Science and Technology Park.