Panoptes closes EUR1.2M seed round, in-licenses 4SC compound

Panoptes Pharma GmbH (Vienna, Austria) raised EUR 1.2 million ($1.6 million) in a seed round from AWS-Life Science Austria and private investors and received rights to preclinical chronic uveitis and conjunctivitis compound PP-001 from 4SC Discovery GmbH. 4SC received a 24.9% stake in Panoptes and is eligible for milestones and royalties. Additionally, 4SC has the right to develop the small molecule inhibitor of interferon (IFN) gamma and interleukin-17 (IL-17) to treat rheumatoid arthritis (RA) and inflammatory bowel disease (IBD). If 4SC develops and/or commercializes PP-001 for the indications, Panoptes would be eligible for milestones and royalties. The companies could not be reached for details. ...