May 3, 2022 | PRESS RELEASES
Columbia, SC – South Carolina Research Authority (SCRA’s) investment affiliate, SC Launch Inc., has invested in Elastrin Therapeutics Inc. This $300,000 investment will help the company advance the development of therapeutics that reverse damaged tissue making it supple again.
The Simpsonville-based biotech startup developed this technology, which restores hardened or damaged arteries and tissues by targeting the elastic fiber and removing the calcification that causes stiffening. Initial applications include reducing hardened arteries, de-calcifying heart valves, and treating diabetes and COPD.
Elastrin became an SCRA Member Company in 2018 and received a $25,000 Academic Startup Grant. They also received a $50,000 Federal Matching Grant in 2019. Elastrin became an SC Launch Inc. Portfolio Company in 2022 when they received this first investment of $300,000. They also received a $50,000 grant during SCRA’s pandemic funding round for startups providing COVID-19 solutions.
SCRA Investment Manager Steve Johnson said, “Elastrin Therapeutics is an excellent result of an original interaction we had with Dr. Vyavahare who was conducting academic research at Clemson, while answering the call to a broadscale industry need. The company was founded in 2018 with a proprietary monoclonal antibody for the treatment of vascular calcification and now has a full-time CEO managing it day-to-day. This is exciting because the technology has a variety of application opportunities in several markets.”
Co-founder Naren Vyavahare, Ph.D. said, “Our development will save lives and that is most gratifying. Our trusted partners, which include SCRA and SC Launch Inc., are helping us advance our work at a faster pace. This mean helping more patients, sooner, who are suffering from cardiovascular disease.”
“We continue to be amazed by the work of the Elastrin team. They are doing phenomenal work to improve health care treatments and they are helping to lead us into the next chapter of health innovation. We are honored to be on this journey with them,” said Bob Quinn, SCRA Executive Director.
Elastrin recently closed a ten-million-dollar funding round, which included this investment. They also recently announced the formation of their scientific advisory board, comprised of leading industry and university experts in cardiovascular research and clinical development.
About SC Launch Inc.
Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent nonprofit corporation provides loans and investments to selected South Carolina-based companies participating in the SC Launch program.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority (SCRA) fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance translational research and accelerate the growth of university-based startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds partnerships between and among startups, industry, and academia. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch, Inc.
Director of Marketing and Communications, SCRA
O: (854) 888-2033
C: (843) 277-7295