NEW YORK, April 20, 2021 (GLOBE NEWSWIRE) -- Laidlaw Venture Partners (“LVP”), the venture capital arm of Laidlaw & Company (UK) Ltd., today announced the successful closing of a $5.0 million Series B financing round for its portfolio company Algorithm Sciences, Inc.
Algorithm Sciences is a development stage biopharmaceutical company focused on optimizing treatment for rare cardiovascular diseases (CVDs). Despite the fact that many drugs have been approved for treatment of various CVDs, it is recognized in the medical community that treatment could be significantly improved. Through the company’s lead product, we believe Algorithm Sciences has the tools and technologies to deliver therapy to achieve improved outcomes.
“We are pleased to have completed this series B financing. We look forward to investing this capital to further develop our exciting pipeline, including Algorithm’s lead product candidate for rare CVDs,” stated Matthew Duffy, Algorithm’s Chief Executive Officer.
James Ahern, Founding Partner, Laidlaw Venture Partners added, "We remain in an exciting time of growth for Laidlaw Venture Partners. The successful closing of the series B financing round in Algorithm is another testimony to the quality of the companies we continue to incubate and the unique investment opportunities they present our clients. We look forward to leveraging all of our capabilities and advisors across the LVP platform to create value for our investors in Algorithm."
About Algorithm Sciences
Algorithm Sciences is focused on optimizing treatment for rare Cardiovascular Diseases. It is a Laidlaw Venture Partners portfolio company.
About Laidlaw & Company
Laidlaw & Company is a full-service investment banking and brokerage firm offering personalized investment advice and skillful execution to private institutions, public institutions, and high net worth individual investors.
Laidlaw & Company (U.K.) Ltd., a broker-dealer registered with FINRA in the United States, clears on a fully disclosed basis through INTL FC Stone Financial Inc., a member of the Securities Investor Protection Corporation (SIPC). Laidlaw & Company International Limited, an affiliate of Laidlaw & Company, is authorized by the Financial Conduct Authority (FCA) in the United Kingdom.
Laidlaw Wealth Management and Laidlaw Private Equity, LLC are affiliates of Laidlaw & Company (UK) Ltd.
Laidlaw Venture Partners is a DBA, of Laidlaw Private Equity.
For more information, please visit: https://laidlawltd.com/
Matt Duffy, Managing Partner