BioTech startup raises US$1 million to fight spiked drinks

Mithradote Bio, a biotechnology startup, has developed the first self-administered antidote against spiked drinks. To combat the current proliferation of drug victims, Mithradote closed an oversubscribed $1 million seed round.

Initial funding of US$1 million was co-led by Taho Pharma and Vickers Venture Partners, according to Business Wire.

In addition to the investment, the startup secured strategic development agreements with Haorui Pharmatech for the manufacture of active pharmaceutical ingredients and with Taho Pharma for an oral administration formulation.

“Drug-facilitated sexual assault is unfortunately a significant problem worldwide, with no self-administered solution available when someone suspects they have ingested a ‘date rape’ drug,” said Mithradote founder and CEO Sophia Lee in the announcement. “We are proud to develop a convenient sublingual strip that allows for rapid absorption and neutralization of medication, and can be easily taken if needed. With the support of our new investors and strategic development partners, we are excited to advance this significant program.”

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