TBR-N0224

Traverse Biosciences lands key seed investment

By GREGORY ZELLER // A critical seed investment will help Traverse Biosciences commercialize pharmaceutical candidates licensed from the SUNY Research Foundation. The circa-2013 Stony Brook-based biotech has secured $500,000 in convertible debt financing in a round led by Excell Partners, a Rochester-based venture capital fund partial to early-stage, high-tech startups. The SUNY Research Foundation added an undisclosed investment to Excell Partner’s $100,000 stake, while a collection of 10 accredited angel investors – “almost exclusively from…