Slater Invests in Octagon Therapeutics Seed Round

Octagon is developing new medicines for autoimmune disease based on selective immunomodulation

PROVIDENCE, RI – April 25, 2024 – Slater Technology Fund, Rhode Island’s leading seed stage investor, has led a Series Seed equity financing in Octagon Therapeutics.  Octagon is developing new medicines for autoimmune and inflammatory disease. The company is pioneering a selective immunomodulation approach based on glyco-immune checkpoint receptors that allows for precise targeting of disease-driving immune processes.

Octagon’s preclinical-stage programs are focused on resetting B cell homeostasis by modulating the activity of key regulatory receptors. These therapeutic approaches are based on novel insights into B cell activation during disease.  Octagon’s medicines have the potential to treat serious autoimmune diseases, including Vasculitis, Cutaneous Lupus, and Multiple Sclerosis, and other diseases, either as a single agent or in combination with current best-in-class therapies.

“We are excited to be working with Isaac and his team of highly skilled scientists, clinicians, and entrepreneurs with decades of research experience and deep expertise in drug development” said Thorne Sparkman, Managing Director at Slater Technology Fund.  “Slater’s participation in our Series Seed funding round will enable Octagon to accelerate the development of an important class of immunomodulatory medicines for patients with chronic autoimmune and inflammatory diseases” said Isaac Stoner, Co-Founder and CEO of Octagon Therapeutics.

Isaac is a graduate of Brown University as is his colleague, VP of Biology, Brent Cezairliyan. Scientific and Clinical Advisor, Michael Elliott, is a Board Member of RI Bio, the hub for life sciences in the greater Rhode Island area. The initial efforts on new medicines for autoimmune disease based on selective immunomodulation arose from the work of Dr. Eleftherios Mylonakis, the Charles C.J. Carpenter Professor of Infectious Disease at Brown University and Chief of Infectious Diseases at Rhode Island Hospital and the Miriam Hospital.

Alongside this financing, Octagon has announced the expansion of its Board.  New Directors include biopharma veteran Peter Kiener, PhD, formerly of MedImmune and Zyngenia, biotech executive Ron Lennox, PhD, formerly of CHL Medical Partners and HarbourVest, company builder Jonathan Thon, PhD, founder of Platelet BioGenesis and STRM.Bio, and Thorne Sparkman from the Slater Technology Fund.

As a part of this investment, Octagon has established their headquarters in Providence, Rhode Island to participate in the growing biotechnology ecosystem in the region anchored by Brown University.

About Slater Technology Fund

The Slater Technology Fund is an evergreen not-for-profit seed fund supporting new venture development in Rhode Island. More than two decades ago, Slater launched a platform for seed-stage investing in Rhode Island; today, the organization remains the most active seed-stage investor in the state. Slater has invested in hundreds of technology ventures in the region, achieving multiple exits while also generating economic impact returns in the form of high-wage jobs.

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For more information, contact:

Pete Saladino
Slater Technology Fund

Isaac Stoner
Octagon Therapeutics