# Olatec Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/olatec-therapeutics

- Industry: Biotechnology
- Headquarters: New York, US
- Website: www.olatec.com
- Total disclosed funding: $40M
- Latest round: Series A (Feb 23, 2023)
- Investors on record: 2

## About

Based in New York, US, and founded by Damaris B. Skouras (chairman and CEO) in 2003, Olatec Therapeutics LLC operates as a biopharmaceutical company. In February 2023, the firm raised USD 40 million in series A funding led by investor Sanders Morris Harris LLC, with participation from another investor Advection Growth Capital.

The company works on the development of compound dapansutrile (lab code: OLT1177®), known as oral NLRP3 antagonist therapeutics to treat acute and chronic inflammatory diseases such as arthritis, heart failure, asthma, Alzheimer’s disease, Parkinson's disease, multiple sclerosis, spinal cord injury, type-2 diabetes, melanoma, breast cancers, etc. Company as of March 2023 has over 150 patents and patent applications globally and its lead product NLRP3 inhibitor is in Phase 2 clinical trials in the US and Europe. 

The company plans to utilize its February 2023 funding to advance its lead compound, dapansutrile, into later stages of clinical testing.

## Funding rounds

- Series A, Feb 23, 2023, $40M — Advection Growth Capital, Sanders Morris Harris

## Investors

- Advection Growth Capital (https://capitalatlas.ai/funds/advection-growth-capital) — Series A
- Sanders Morris Harris (https://capitalatlas.ai/funds/sanders-morris-harris) — Series A