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news.Singapore-based Moleac has raised $3.5 million. This series A investment comes from a group of private investors, who are based in both Europe and Asia, and Hunza Ventures.
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Moleac will use this injection of funds to market its first product NeuroAid on a global scale. Moleac will also use the investments to fund international clinical trials that demonstrate the efficacy of NeuroAid during the acute stage of stroke. In addition to NeuroAid, Moleac has a pipeline of 12 other products. The company plans to market its second product, a smoking cessation medical device, in 2009.
David Picard, CEO and co-founder of Moleac, said: “Demonstrating the benefits of NeuroAid, when administered at the acute stage of a stroke, to the global market will enable it to become a systematic treatment modality. We are targeting to hit revenues of $30 million within the next three years, which will be mainly driven by NeuroAid.”