Thursday December 20, 2018 0 comments
LAFAYETTE -- Neuraptive Therapeutics, Inc. today announced it has secured a $11.5 million Series A equity financing that remains open for additional investors.
The round was led by New Rhein Healthcare Investors LLC. Neuraptive said it will use the funds to further develop its flagship product, the AxoFuse Nerve Repair System (AxoFuse™), in clinical trials and to expand operations.
When a peripheral nerve is cut or crushed, the patient experiences immediate loss of sensation and function. Soon after injury, the distal segments of the axons within an injured nerve always undergo programmed degeneration.
Recovery is exclusively by slow (~1mm/day) and imperfect (only ~10% reinnervate distal targets) natural regeneration of the proximal axonal stumps. Contemporary surgical techniques facilitate natural regeneration but no current technology can increase the speed or improve the quality of recovery from nerve injury.
As a result, patients with peripheral nerve injuries often experience prolonged or permanent disability. Neuraptive said it aims to improve clinical outcomes for patients with peripheral nerve injuries with AxoFuse, a novel therapeutic product for use in conjunction with standard nerve repair surgery.
"AxoFuse has the potential to dramatically improve outcomes for patients over today's standard of care,” said David Jackson, Neuraptive CEO and co-founder.
“By reconnecting a substantial proportion of severed axons, we expect AxoFuse to be able to abrogate degeneration and accompanying limb atrophy.
“This should lead to significantly improved speed and quality of recovery, which will be of great benefit to patients.”
Instead of relying on the body's natural but slow regeneration process, in extensive preclinical studies, AxoFuse has been shown to prevent degeneration of a substantial proportion (~50-70%) of the axons within a repaired nerve, the company said.
AxoFuse has been shown in preclinical studies to dramatically reduce recovery time and significantly improve stable recovery of function versus standard nerve repair and natural regeneration.
The company said it believes AxoFuse has exciting potential to improve surgical repair of peripheral nerves severed during injury and connect nerves in several types of surgical reconstructions.
Neuraptive said it is developing AxoFuse for use in clinical trials, anticipated to begin in 2019. Extensive preclinical data and limited clinical case studies support the hypothesis that outcomes from nerve repairs using AxoFuse will greatly exceed the standard of care in surgical nerve repair.
"This is the first product that maintains the neural network downstream of a peripheral nerve injury,” said Gino DiSciullo, Neuraptive co-founder and board director.
“Doing so is expected to enable significantly faster recovery with better functional outcomes for the patient. We believe this product will change the standard of care in the treatment of peripheral nerve injuries and has broad applicability in surgical reconstructions involving nerves."