QR Pharma receives $2.4M in investments

by John George

Wednesday, June 2, 2010, 10:17am EDT

QR Pharma Inc., a pharmaceutical company focused on developing treatments for Alzheimer’s disease, raised $2.4 million in a seed round of investments that closed Wednesday.

The round included a $500,000 investment from BioAdvance, which operates the Biotechnology Greenhouse of Southeastern Pennsylvania, $500,000 from Ben Franklin Technology Partners and more than $1 million from angel investors.

“QR Pharma’s technology targets two critical pathways in the treatment of Alzheimer’s disease and achieves both in a manner that has the potential to impact disease progression and provide symptomatic relief,” said Maria Maccecchini, CEO of QR Pharma.

Maccecchini said the Radnor, Pa., company has started a a clinical study of its lead compound, Posiphen, to Alzheimer’s patients and is getting ready to conduct its first clinical safety trial of a second compound, Bisnorcymserine.

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