Partnership to help accelerate development of i2O’s ionic liquid technology for oral delivery of challenging drugs
BOSTON & HARLEYSVILLE, Pa.–(BUSINESS WIRE)–i2O Therapeutics, an innovative biotech company developing a platform to enable oral delivery of traditionally injectable biological drugs, has received a strategic investment from Colorcon Ventures, the corporate venture fund of Colorcon Inc. In addition to this investment, Colorcon will collaborate with i2O to accelerate i2O’s research and development efforts. i2O previously announced its seed round of financing led by Sanofi Ventures and JDRF T1D Fund in April 2020.
“We welcome Colorcon Ventures as a strategic investor at this pivotal time of company growth,” said Ravi Srinivasan, Ph.D., Chief Executive Officer of i2O Therapeutics.
Founded by a team of researchers from Harvard University, i2O Therapeutics is focused on the development of safe and effective oral formulations of therapies that are conventionally limited to injections, e.g. biologics, large molecules, and peptide-based pharmaceuticals such as insulin. The company’s innovative platform enables drugs that traditionally would not survive the hostile environment of the digestive system to pass through safely by utilizing a unique coating that dissolves in the small intestine, thereby releasing the active drug. i2O’s initial focus is on developing a novel oral formulation for GLP-1 analogs.
“We are excited to collaborate with Colorcon to help advance our ionic liquid technology given their rich history of innovation and expertise in pharmaceutical development,” said Samir Mitragotri, Ph.D., Co-founder of i2O Therapeutics.
“Colorcon Ventures’ strategic focus on technologies that transform conventional delivery pathways aligns well with i2O. The ability to deliver injectable therapies orally has the potential to significantly improve patient adherence and outcomes,” commented Martti Hedman, Colorcon’s Chief Executive Officer.
Dr. Ali Rajabi-Siahboomi, Chief Scientific Officer of Colorcon states, “Colorcon’s excipients and in-depth pharmaceutical development expertise will help advance the use of ionic liquids for the oral delivery of challenging molecules.”
About i2O Therapeutics
i2O Therapeutics is a biotechnology company developing safe and effective oral formulations of therapies traditionally limited to injections. Using an innovative ionic liquid technology, this platform leverages the benefits of protecting the drug cargo while also transiently enhancing permeation across the epithelial lining when administered orally. i2O is focused on creating the next generation of oral peptide and protein-based therapies. For more information, please visit www.i2OBio.com.
About Colorcon Ventures
Colorcon Ventures targets investments in transformational solutions for the pharmaceutical industry across R&D, manufacturing, supply chain, and the delivery of pharmaceutical products and services. Colorcon Ventures is the corporate venture fund of Colorcon Inc., a trusted design and development partner to over 4,000 pharmaceutical companies, around the world, providing expertise to fast track pharmaceutical formulation and manufacturing. For more information, please visit www.colorcon.com/ventures or follow @ColorconVC.
Contacts
Colorcon Ventures
Richard Hayhurst
Richard Hayhurst Associates, Ltd.
+44 7711-821527
richard@rhapr.eu
i2O Therapeutics
Lauren Arnold
MacDougall
781-235-3060
larnold@macbiocom.com