Mid Atlantic Bio Angels Closed-End Investing Pool makes its first investment in FORGE Life Science
Mid Atlantic Bio Angels Closed-End Investing Pool makes Flagship Investment in FORGE Life Science, a Pennsylvania-based Life Science Company focused on Anti-Virals.
| Source: Mid Atlantic Bio Angels
NEW YORK, July 07, 2016 (GLOBE NEWSWIRE) — Mid Atlantic Bio Angels (MABA) announces today that its previously announced, closed-end investment pool (Pool) funded solely by current, active MABA members, has made its first investment. The investment, which was joined by several MABA members, was made in FORGE Life Sciences, a Pennsylvania-based company focused on anti-virals.
“This flagship investment for our closed-end pool marks the beginning of what we anticipate will be more frequent investments in life science companies. The pool was formed to enable MABA members to make more frequent initial investments to help companies achieve a milestone which in turn may justify a larger funding commitment by the group. Our members determined that FORGE met our basic investment criteria and wanted to help them move forward,” said Yaniv Sneor, a MABA co-founder and president of Blue Cactus Consulting. “FORGE Life Science has an experienced management and scientific team, and its anti-viral technology represents a significant opportunity in the market.”
FORGE has two drug discovery programs applying its broad-spectrum antiviral technology to address clinical challenges currently unmet by direct-acting antiviral strategies: (1) a single pill effective against multiple opportunistic infections including cytomegalovirus, BK virus, and JC virus infections posing serious complications for immunosuppressed patients; and (2) a broad-spectrum flu-antiviral with a reduced acquired resistance profile and effective against seasonal and pandemic influenza strains.
About Mid Atlantic Bio Angels
Mid Atlantic Bio Angels (http://bioangels.net) is a group of active angel investors, which meets in New York City monthly (except July and August) solely to hear from pre-screened early-stage life science companies. MABA members consist of individuals from Delaware to Massachusetts with significant expertise and experience in the biotechnology, pharmaceutical and healthcare industries, including former and current corporate executives, doctors and Ph.D. scientists with product development backgrounds, successful medical entrepreneurs and analyst/investors focused on life sciences. MABA’s goal is to create an environment where the depth of investors’ knowledge coupled with the pre-screening of presenting companies enhances the potential for meaningful investment.
View the full press release at GlobeNewswire.