// startup autopsy
ICAgen
Ion channel pioneer absorbed before it could prove its science.
marketfitAcqui-hire
Fatal mistake: ICAgen burned nearly two decades of capital on ion channel drug candidates without securing a major licensing partner to validate or fund its pipeline before cash ran out.
Key Events Timeline
FOUNDING
ICAgen founded in North Carolina to develop ion channel-targeted therapeutics.
PRODUCT LAUNCH
ICAgen advances lead ion channel compounds into preclinical and early clinical development.
FUNDING
ICAgen receives its last disclosed funding round of $5M as pipeline progress slows.
ACQUISITION ATTEMPT
Pfizer acquires ICAgen to absorb its ion channel research platform and scientific team.
SHUTDOWN
ICAgen ceases independent operations following Pfizer acquisition, ending 19 years as a standalone biotech.