New York, NY – According to filings with the U.S. Securities and Exchange Commission, Akelos is raising $14,000,000.00 in new funding. Sources indicate as part of senior management President, Steven Fox played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Akelos
Akelos Inc. is a biopharmaceutical clinical company focused on the translation of innovative science into treatment. The company currently is developing novel non-narcotic drugs for the treatment of neuropathic pain. The goal of Akelos is to address some of todays most pressing areas of unmet needs. Over 21 million adults suffer from Neuropathic Pain in the US alone, for which opioid medication is a common treatment. Associated costs exceed $90 billion/year in the US, and roughly 40 – 70% of people do not receive proper medical treatment and are at risk for either over or under treatment. Akelos: Building New Frontiers to Address Neuropathic Pain. Akelos is an innovative research-based biotechnology company founded to address the Opioid epidemic through opioid alternatives, with two drug candidates in pre-clinical development. Akelos has proudly entered into a research collaboration to develop and commercialize a novel, non-opioid anti-hyperalgesic drug to treat chronic and neuropathic pain. Akelos holds an exclusive worldwide license with Columbia University and Cornell University and is working in collaboration with Weill Cornell Medicine. Researchers at Weill Cornell University and Columbia University have developed novel compounds for the treatment of neuropathic pain, resulting in intellectual property that is jointly owned by Cornell and Columbia. Akelos has licensed this intellectual property and is developing a treatment for neuropathic pain using the novel compounds.

To learn more about Akelos, visit http://www.akelosinc.com/

Contact:
Steven Fox, President
212-953-1544
https://www.linkedin.com/in/drstevefox/

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