Algorithm Sciences
Precision medicines for rare cardiovascular diseases.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | $1.8m | Series C | |
| Total Funding | 000k | ||
Algorithm Sciences, Inc. is a biopharmaceutical company founded in 2019 and headquartered in New York, NY. The company focuses on developing treatments for rare cardiovascular diseases, particularly pulmonary arterial hypertension (PAH). The founder, Matthew Duffy, also serves as the company's CEO as of January 2023.
The company's core business revolves around optimizing the delivery of therapies to improve patient outcomes. Its platform is centered on the Prometra implantable infusion pump, which it acquired through an asset purchase from Flowonix Medical, Inc. in June 2023. This acquisition secured access to a key component for its lead product candidate, PulmoProst, which uses the pump to continuously deliver iloprost, a potent drug for treating PAH. Following the acquisition, the company intends to continue selling the Prometra II pump in existing pain and spasticity markets, aiming for that part of the business to be cash-flow positive.
The business model involves developing proprietary drug/device combinations and seeking regulatory approval to bring them to market. For its lead candidate, PulmoProst, the company has a Special Protocol Assessment with the FDA and plans to file for an Investigational New Drug (IND) to begin a single registrational trial. In addition to its primary focus, Algorithm Sciences seeks to partner with other companies to develop similar drug/device combinations for other indications and plans to expand approvals for its pump in ex-US jurisdictions.
Keywords: biopharmaceutical, rare diseases, cardiovascular disease, pulmonary arterial hypertension, drug delivery, infusion pump, prostacyclin therapy, precision medicine, drug-device combination, life sciences