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Portland, Maine-based Aiko Biotechnology Inc. plans to raise $400,000 from unnamed investors. None of the shares has been sold so far.
Aiko Biotechnology is an early stage drug discovery company with drug candidates targeting pain, addiction and adverse side effects resulting from prescription opioid pain reliever use. AIKO’s lead drug candidates will significantly increase the safety and efficacy of opioids that are used by millions of pain sufferers, with the ultimate goal to provide safe analgesics with minimal side effects while eliminating the addictive and abuse potential of the most powerful pain relievers.
Aiko began its first phase 1 study on its lead drug target, AIKO-150, in January. This trial is designed to demonstrate the mechanism of action of AIKO’s lead compound, which is designed to be an abuse-resistant pain killer that prevents gastrointestinal side effects common to other opioids
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