Navigation Links
AssureRx Closes Round of Funding to Commercialize Pharmacogenetic Test
Date:3/5/2008

Company commercializes technology from Cincinnati Children's and Mayo

Clinic to help doctors select right drug at right dose for patients

CINCINNATI, March 5 /PRNewswire/ -- AssureRx, a personalized medicine company, today announced that it has closed a round of funding.

The company was founded in 2006 to license and commercialize pharmacogenetic technology from Cincinnati Children's Hospital Medical Center and Mayo Clinic. The technology utilized in the AssureRx non-invasive, pharmacogenetic test measures, analyzes and interprets the genes of patients with common neuro-psychiatric disorders to predict which drugs are best choices for each specific patient. The test helps to take much of the guesswork out of prescribing medications.

"Personalized medicine is the future of health care," said Mark Byrne, chief executive officer of AssureRx. "Our test uses cutting-edge technology to measure, analyze and inform, helping doctors provide customized care based on science. Our comprehensive genetic test, sophisticated interpretive algorithms, quick turnaround and physician-friendly reports provide physicians a unique guide that will save money, save time and save lives."

Pharmacogenetics helps physicians determine how an individual patient will respond to an individual drug, and at what dose. AssureRx analyzes not just one gene, but several genes to predict how patients will respond to medicines. The patent-pending technology takes many genetic variables into consideration and translates the data into a report for doctors within 48 hours of receiving a sample from a patient.

"Until now, doctors have had to determine the safety and effectiveness of psychotropic drug selection and dosing for an individual patient through trial and error," said David Mrazek, M.D., Chair, Mayo Clinic Department of Psychiatry and Psychology. "This technology allows for a personalized patient report based on known science and the specific genetic makeup of the individual patient. The report outlines metabolic factors and drug response information."

Investors include Queen City Angels (lead), CincyTech USA, the Health Foundation of Greater Cincinnati, Blue Chip Venture Company, Cincinnati Children's Tomorrow Fund and individual investors.

"We liked what we saw in terms of the science, the research partners, the business plan, the executive team and the market potential," said John McIlwraith of Blue Chip Venture Company. "Personalized medicine is clearly an emerging trend in patient care. We're happy to be in at the forefront of this exciting opportunity with AssureRx, and we're confident that the company will become a leader in the field."

About AssureRx

Cincinnati-based AssureRx, LLC, is a personalized medicine company dedicated to helping physicians determine the right drug at the right dose for individual patients suffering from a range of medical conditions. The company was founded in June 2006 to license and commercialize industry-leading personalized medicine technology of Cincinnati Children's Hospital Medical Center and Mayo Clinic. The proprietary technology is based on pharmacogenetics - the study of the genetic factors that influence an individual's response to drug treatments - as well as evidence-based medicine and clinical pharmacology. The result is a trusted guide that helps doctors select the right drug at the right dose right now. AssureRx can be found on the Web at http://www.assurerx.biz.


'/>"/>
SOURCE AssureRx
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. OncoVista, Inc. Closes on $6.8 Million Financing and Acquires Control of a Public Shell Company
2. Genmab Discloses Target and Development Plans for HuMax-Inflam
3. Oxford Finance Corporation Closes $7 Million Debt Facility with Othera Pharmaceuticals
4. RoundTable Healthcare Partners Closes Sale of MedAssist Holding, Inc. to Firstsource Solutions Limited
5. Gilde Healthcare Partners Closes EUR 150 Million European Healthcare Venture Fund
6. Symmetry Medical Discloses Accounting Issues at Sheffield, UK Operating Unit and Possible Restatement
7. BioVex Closes Second Round of Series E Financing
8. Pharmaxis Closes Share Purchase Plan
9. The closest look ever at native human tissue
10. Helix BioPharma closes $16.9 million private placement of common shares
11. Senesco Technologies Closes on Additional $4.0 Million of Previously Announced Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... October 11, 2017 , ... ComplianceOnline’s Medical Device Summit is back for ... June 2018 in San Francisco, CA. The Summit brings together current and former FDA ... board directors and government officials from around the world to address key issues in ...
(Date:10/11/2017)... ... ... Disappearing forests and increased emissions are the main causes of the evolving ... those living in larger cities are affected by air pollution related diseases. , That ... countries globally - decided to take action. , “I knew I had to take ...
(Date:10/10/2017)... ... October 10, 2017 , ... ... conjugate (ADC) therapeutics, today confirmed licensing rights that give it exclusive global ... technology developed in collaboration with Children’s Hospital Los Angeles (CHLA). Additionally, ...
(Date:10/10/2017)... 2017 SomaGenics announced the receipt of a ... RealSeq®-SC (Single Cell), expected to be the first commercially ... microRNAs) from single cells using NGS methods. The NIH,s ... accelerate development of approaches to analyze the heterogeneity of ... techniques for measuring levels of mRNAs in individual cells ...
Breaking Biology Technology:
(Date:7/20/2017)... July 20, 2017 Delta (NYSE: DAL ) customers ... Delta aircraft at Reagan Washington National Airport (DCA). ... Delta launches biometrics to board aircraft ... Delta,s biometric boarding pass ... is now integrated into the boarding process to allow eligible Delta ...
(Date:6/14/2017)... IBM ) is introducing several innovative partner startups at VivaTech ... startups and global businesses, taking place in Paris ... will showcase the solutions they have built with IBM Watson ... France is one of the most dynamic ... in the number of startups created between 2012 and 2015*, ...
(Date:5/16/2017)... , May 16, 2017   Bridge Patient ... organizations, and MD EMR Systems , an ... partner for GE, have established a partnership to ... product and the GE Centricity™ products, including Centricity ... These new integrations will allow ...
Breaking Biology News(10 mins):