SUMMERVILLE, S.C.–(BUSINESS WIRE)–SCRA announces a $200,000 SC Launch, Inc. investment in Zylö Therapeutics. The life sciences company, located in Greenville, was accepted into SCRA’s entrepreneurial program, SC Launch, in June 2018. The SC Launch, Inc. investment was part of the company’s Series A raise that also includes an investment from the lead investor, VentureSouth, an early-stage venture firm that includes more than 300 members investing through a dozen angel groups and three sidecar funds.
Zylö Therapeutics has developed a sustained-release drug delivery system. The delivery system uses patented xerogel-derived particles, called Z-pods™, to sustainably deliver Nitric Oxide and other notoriously hard-to-deliver therapeutic agents through topical administration. The technology enables a product concept called the Patchless Patch™, an innovative, competitive response to a lidocaine patch. The company recently announced a signed term sheet with Hoth Therapeutics to co-develop a new treatment—using endocannabinoid-loaded Z-pods™—for patients suffering from Cutaneous Lupus Erythematosus (CLE), a chronic autoimmune disease that affects the skin. The Series A funding will be used to scale the manufacturing process of the company’s Z-pod™ particles and to forge additional development and commercial partnerships.
“We appreciate the confidence expressed by our investors in the potential of our underlying Z-pod™ technology and our leading product candidates,” said Scott Pancoast, Zylö Therapeutics CEO and Founder.
“Zylö Therapeutics continues to rapidly innovate the Z-pod technology and grow partnerships,” said Steve Johnson, SC Launch Regional Manager, SCRA. “What Scott and the team have developed over the past few years is impressive, and we are excited to work together as they scale the company.”
SCRA is a state-chartered organization that fuels job creation and grows South Carolina’s innovation economy. Through SC Launch, early-stage companies are provided mentoring and grants and may be eligible for an investment from SC Launch, Inc. The SC Launch program is open to qualified South Carolina companies in the Advanced Materials/Manufacturing, Information Technology and Life Sciences sectors.
Chartered in 1983 by the State of South Carolina as a public, non-profit corporation, SCRA fuels South Carolina’s Innovation Economy by supporting entrepreneurs, enabling academic research and its commercialization, and connecting industry to innovators.
About SC Launch, Inc.
Established in 2006, SC Launch, Inc. is an independent, non-profit corporation affiliated with SCRA, which provides loans and investments to selected South Carolina-based companies participating in the SC Launch program.