Issue Date: August 20, 2007
FoldRx Gets Funds From Fibrosis Group
Cystic Fibrosis Foundation Therapeutics, an affiliate of the Cystic Fibrosis Foundation, will invest $22 million in FoldRx Pharmaceuticals, a Cambridge, Mass.-based biotech firm that develops drugs to address diseases caused by misfolded proteins. The funds, to be distributed over five years, will drive the discovery and development of compounds to correct a misfolded protein associated with cystic fibrosis. FoldRx will employ its yeast-based, high-throughput screening system to determine the mechanism of the misfolding and then come up with small molecules that address that defect.
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