Alkeus' financial ties to the FDA
Boston’s Alkeus Pharmaceuticals has an unorthodox funding source: the Food and Drug Administration.
The company, which is ramping up for a Phase 2 trial of its drug for Stargardt disease, a rare and inherited form of vision loss, just got $1.75 million from federal regulators. It’s part of the agency’s Orphan Products Clinical Trials Grants program, which has been around since 1983. Alkeus has received three such grants — and generally has a small pool of investors on top of that, which has allowed the startup to stay out of the venture capital game.
The company, which is ramping up for a Phase 2 trial of its drug for Stargardt disease, a rare and inherited form of vision loss, just got $1.75 million from federal regulators. It’s part of the agency’s Orphan Products Clinical Trials Grants program, which has been around since 1983. Alkeus has received three such grants — and generally has a small pool of investors on top of that, which has allowed the startup to stay out of the venture capital game.
As the company moves further in its drug development process, the question remains whether it’ll be able to stick with the alternative funding route — or go for an IPO.
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