Causeway Therapeutics, a University of Glasgow spin-out specialising in tendon disease, has raised £8.75m to conduct an international phase two clinical trial of its lead compound.
Professor Declan Doogan, an experienced pharmaceutical executive, biotech entrepreneur and an alumnus of the University of Glasgow Medical School, led the round of investment, which also included existing investors Mediqventures, Scottish Enterprise and Glasgow University Holdings.
Doogan said: “One in 10 people will suffer from tendinopathy during their lifetime, but here is no approved therapy - this is a neglected area with a high degree of unmet medical need.
