Aeolus Pharma gets capital infusion from shareholders

USA-based Aeolus Pharmaceuticals has announced that the Xmark Opportunity Funds and other investors, including the Biotechnology Value Fund, have agreed to immediately provide up to $2.5 million in funding to the firm in the form of convertible preferred stock and warrants.

The funds are being provided primarily for animal testing and development of several of Aeolus' pipeline compounds under the Aeolus Pipeline Initiative in the following therapeutic focus areas: Parkinson's disease; autoimmune disorders (arthritis and ulcerative colitis); chronic obstructive lung disease; biodefense/radioprotection; tumor suppression/bone marrow transplantation; and stroke.

Commenting on the Initiative, Brian Day, a co-founder of the firmand co-inventor of its proprietary chemical compounds who serves as the chief science officer, noted that "Aeolus has developed and tested approximately 200 proprietary catalytic antioxidant compounds over a 10-year period. This capital infusion will now allow us to accelerate our internal Pipeline Initiative to select and initially test between six and 12 of the most promising compounds in animal models of relevant central nervous, autoimmune, respiratory and oncology diseases and disorders."