Copernicus Therapeutics Inc., founded on technology licensed from CWRU and Ohio University, has secured more than $2 million in additional financing.

The funding, which has been raised from a consortium of private and institutional investors, will be used to assist Copernicus as it completes its current round of clinical trials on the use of a novel therapy for the treatment of cystic fibrosis.

"We are pleased to have this opportunity to help Copernicus, one of the University's principal startup companies," said Nick Frollini, managing director of Case Technology Ventures. "It's gratifying to be involved in a situation involving such sophisticated investors, dedicated management and licensed technology produced by world-class University scientists."

Since joining CWRU a year ago, Frollini has worked closely with Copernicus and both universities on the relationship among the three parties. CWRU and Ohio University both retain equity stakes in Copernicus.

"The fact that Copernicus was able to raise $2 million in this difficult market for fundraising is a significant accomplishment," Casey Porto, associate vice president of technology transfer.