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Triathlon Medical Ventures and the Kentucky Seed Capital Fund Lead Investment in Louisville Start-Up
Pradama, Inc. Developing Drugs for Bone Diseases and Disorders
LOUISVILLE - George Emont, managing partner of Kentucky Seed Capital Fund, announced today that the fund has made a third investment in Pradama, Inc., a Louisville-based pharmaceutical company.
"Pradama has made good progress in understanding their lead product development path," Emont explained. "We are pleased to have been a part of that progress to date and we look forward to seeing the team work toward demonstration of clinical viability."
Triathlon Medical Ventures joined KSCF in leading the current round of funding.
Pradama is a specialty pharmaceutical company led by University of Louisville pharmacology professor William M. Pierce, Jr. It is focused on the development and commercialization of products to treat bone diseases and disorders, including potential treatments for osteomyelitis and fracture healing.
"We are gratified that KSCF has continued to support the work and vision of the Pradama team," said Dr. Pierce, Pradama president and CEO. "This investment will fund our efforts to develop information crucial to building working relationships with potential corporate partners, and will help us advance one or two of our products closer to the clinic."
According to Emont, the latest funding will be the first of a two-part investment, with the second phase expected in the second or third quarter of 2010.
Investors in KSCF include the Commonwealth of Kentucky through Commonwealth Seed Capital, Humana Inc., the University of Louisville Foundation, Baptist Healthcare System, Kosair Charities, James Graham Brown Foundation, Jewish Hospital & St. Mary's Healthcare, Kentucky District Council of Carpenters, and several individuals.
According to Emont, the fund will invest in companies at the earliest stages of development, providing a pipeline of investment opportunities for later-stage venture investment.