Monday April 27, 2020 0 comments
AURORA -- VIC Technology Venture Development, LLC (VIC) announced the formation of Neurexis Therapeutics, Inc. to develop a new medication for the prevention of brain damage following ischemic events such as stroke.
Licensed from the University of Colorado Anschutz Medical Campus, this drug has the potential to significantly improve clinical outcomes for stroke patients and reduce total healthcare costs, VIC said.
Cerebral ischemia is the loss of bloodflow to the brain and can be caused by stroke, cardiac arrest, sickle cell anemia, congenital heart defects, high-risk vascular surgery, coronary disease, and other issues.
While restoring bloodflow to the brain is imperative, the re-establishment of bloodflow triggers a cascade of inflammatory events. This results in extensive nerve cell death and significant cognitive and functional impairment.
Strokes cost the United States an estimated $34B each year and greatly reduce the quality of life for many patients.
Professor Ulli Bayer at the University of Colorado has spent the last decade searching for a solution to this critical healthcare problem. As a result of these efforts, he and his team have developed an optimized drug called tatCN19o, which dramatically reduces both the cognitive and behavioral problems that result from loss of blood flow to the brain.
“During our assessment of the tatCN19o technology, we were impressed by the significant amount of proof-of-concept data already in place, as well as the substantial unmet medical need for a potent neuroprotective option across multiple large disease areas,” said Dr. Michael Artinger, VIC’s executive VP and managing director, who will serve as the interim CEO of Neurexis Therapeutics.
“We are delighted to be able to provide the formational funding for Neurexis to accelerate the clinical development of this promising therapeutic candidate.”
“These are very exciting times for me. It is not every day that we -- as basic scientists -- get to transform our discoveries in into actual applications that can directly help people. Partnering with VIC for this venture seemed like a very natural fit,” said Bayer.
“We are excited to work with VIC to advance Dr. Bayer’s research,” said Kimberly Muller, CU Innovations managing director.
“VIC provides early-stage, life science-focused capital and operational expertise, and is an essential partner for moving university research towards product opportunity.”