Parkure has successfully raised over £70,000 to develop a cure for Parkinson’s disease in crowdfunding investment through ShareIn. Parkure decided to use an equity crowdfunding campaign to raise finance because they believed that traditional sources of funding are often reluctant to back drug discovery ventures at their early stages.
By using ShareIn, Parkure were able to receive the funding they needed, which they otherwise might not have been able to raise from investors. ShareIn provided them with the opportunity to reach a wider network of individuals and organisations who could invest in their company and in return receive shares of Parkure.
Parkure’s primary focus is developing a drug that stops the disease, not just fights it. This could open up a new market, worth over $3 billion. Their search for a cure could lead to the discovery of new symptomatic treatments. Dr. Lysimachos Zografos, Chief Executive Officer said: “We have a tough challenge ahead but now we are even more driven, committed and energised because all of those who supported us.”
Parkure’s campaign involved a mixed approach of active engagement on social media and traditional publicity to build their successful crowdfunding campaign. The team successfully generated interest from special interest groups, investors, and individuals that allowed them to achieve 113% of their target goal.
Dr. Zografos, also spoke about his experience of using crowdfunding: “Crowdfunding can provide an excellent way to bridge the funding gap for early stage companies. We were the first who managed to bootstrap a biotechnology company using it and this was partly made possible by the invaluable help, guidance and mentoring we received from the Centre for Integrative Physiology and Edinburgh Research and Innovation’s company formation team.
We have a tough challenge ahead but now we are even more driven, committed and energised because of all those who supported us.”
In addition to successfully raising more than £70,000 on ShareIn, Parkure was awarded a SMART Scotland grant from the Scottish Government in December 2014 to match the private investment raised by crowdfunding
We are proud to share in Parkure’s success towards developing a cure towards Parkinson’s disease. Zografos concludes, “Using crowdfunding for more widespread diseases means that those with an interest in solving the problem are more likely to see it solved.”
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Tags: alternative investment, crowdfunding, dentistry, Edinburgh, equity crowdfunding, finance, future of money, global health, Ground-breaking, health, high-growth, Parkinson's, press, Publicity, scotland, sharein, technology