CHAPEL HILL, NC – CEO Crist Frangakis spoke in greater detail Friday about the $3 million being raised by his Chapel Hill startup Achelios Therapeutics.
“We’re taking some products into clinical development,” Frangakis says, adding that the products are aimed to treat migraines. “We’re still in the midst of finalizing a round.”
Still, he’s short on details: “It’s still very early.” Earlier this week, Achelios Therapeutics raised $1.9 million in equity, according to an SEC filing. In all, the company, which obtained LLC status at the end of January, hopes to raise $3 million total for the project.