Celtaxsys looks to raise $10M

Atlanta-based Celtaxsys is seeking more than $10 million to develop drugs that can control the movement of immune cells. And by controlling the direction of immune cells, Celtaxsys hopes its compounds can give medication a better chance of working, the Atlanta Business Chronicle reports.

According to TechJournal South, which interviewed Celtaxsys CFO William Riddick, the company's secret is a series of assays that detect and quantify chemo-repulsion. "By using these, we're able to detect and identify proteins that signal the immune system to move backwards," Riddick explains.

"In asthma, for instance, errant signals tell immune cells to go to the lungs, which causes difficulty in breathing. Remove them and you can treat the asthma," he adds.

In a recent SEC filing, the company disclosed is has already raised $4.2 million.

- check out the TechJournal South report 
- get more from the Atlanta Business Chronicle