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Biotech startup lands $1.8 million in funding

June 15, 2018

Scioto Biosciences, an Indianapolis-based, preclinical-stage company developing therapies to fight serious conditions in premature infants, has closed on $1.8 million in early-stage financing.

The investors include locally based Elevate Ventures, a private venture development organization; locally based BioCrossroads, a public-private collaboration that supports Indiana’s life-sciences sector; and Ohio-based Rev1 Ventures.

Scioto Biosciences, founded in 2017, is trying to use the technology to combat a condition in premature infants where the wall of the intestine is invaded by bacteria.

“We are delighted that a team of important investors has shown confidence in our microbiome platform technology and sees its commercialization potential,” Scioto Biosciences CEO Joe Trebley said.•

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