AURORA, COLO. (PRWEB) APRIL 22, 2020
VIC Technology Venture Development, LLC (VIC) announced today 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.
Cerebral ischemia is the loss of blood flow 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 blood flow to the brain is imperative, the re-establishment of blood flow 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,” stated Dr. Michael Artinger, Executive Vice President and Managing Director of VIC, 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.”
According to Professor Ulli Bayer, who will serve as the Chief Scientific Officer for Neurexis, “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.”
“We are excited to work with VIC to advance Dr. Bayer’s research,” said Kimberly Muller, Managing Director of CU Innovations. “VIC provides early-stage, life science-focused capital and operational expertise, and is an essential partner for moving university research towards product opportunity.”
About Neurexis Therapeutics, Inc.
Stroke and cardiac arrest affect millions of patients each year. Re-establishment of blood flow to the brain—although life-saving—does not address the substantial impact on quality of life and healthcare costs associated with the resulting neuronal death and cognitive impairment. There are no FDA-approved drugs for this indication, resulting in a tremendous unmet medical need for a product such as tatCN19o that significantly reduces brain damage from stroke. To learn more, visit http://www.neurexistherapeutics.com.
About VIC Technology Venture Development, LLC
VIC Technology Venture Development, LLC is a technology venture development firm that creates innovative new companies with world-changing science- and engineering-based technologies. VIC carefully selects and licenses technologies from universities and research institutions around the world, then partners technology entrepreneurs with VIC’s team of business and technology experts and allocates seed capital through the national VIC Investor Network. VIC provides its portfolio companies with senior management expertise, extensive knowledge of technology startups, and proven processes to execute business strategies, including legal, financial, operations, marketing, capital acquisition, and technology management. For more information, please visit http://www.victech.com.
About the University of Colorado Anschutz Medical Campus
The University of Colorado Anschutz Medical Campus is a world-class medical destination at the forefront of transformative science, medicine, education, and patient care. The campus encompasses the University of Colorado health professional schools, more than 60 centers and institutes, and two nationally ranked hospitals that treat more than 2 million adult and pediatric patients each year. Innovative, interconnected and highly collaborative, the campus delivers life-changing treatments, patient care, professional training, and conduct world-renowned research powered by more than $550 million in research awards. For more information, visit http://www.cuanschutz.edu.
About CU Innovations
CU Innovations is a leading biomedical hub for industry partners, entrepreneurs, and investors to partner with CU Researchers creating breakthrough technologies. With expertise in patents, copyrights, and licensing, CU Innovations translates scientific discovery into life-changing technology through world-class intellectual property management services. To accelerate the pace of commercialization, CU Innovations provides access to funding programs, business mentorship, and industry expertise for researchers at the University of Colorado Anschutz Medical Campus. For more information, visit http://www.cuanschutz.edu/cu-innovations.
“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.” – Professor Ulli Bayer, CSO, Neurexis