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:6/23/2016)... SAN FRANCISCO , June 23, 2016   ... it has secured $1 million in debt financing from ... to ramp up automation and to advance its drug ... for its new facility. "SVB has been ... goes beyond the services a traditional bank would provide," ...
(Date:6/23/2016)... June 23, 2016  Blueprint Bio, a company dedicated ... the medical community, has closed its Series A funding ... . "We have received a commitment from ... we need to meet our current goals," stated ... the runway to complete validation on the current projects ...
(Date:6/23/2016)... ... June 23, 2016 , ... Velocity Products, a ... designed, tuned and optimized exclusively for Okuma CNC machining centers at The International ... a collaboration among several companies with expertise in toolholding, cutting tools, machining dynamics ...
(Date:6/22/2016)... NEW YORK , June 22, 2016 /PRNewswire/ ... the growing next generation sequencing (NGS) market include ... adoption of smaller sequencers.  More accessible and affordable ... led to growing demand for consumables including sample ... The Market for Sample Preparation for Next ...
Breaking Biology Technology:
(Date:6/15/2016)... 2016 Transparency Market Research ... Market by Application Market - Global Industry Analysis Size Share ... the report, the  global gesture recognition market  was ... is estimated to grow at a CAGR of ... Increasing application of gesture recognition technology ...
(Date:6/2/2016)... , June 2, 2016 The ... has awarded the 44 million US Dollar project, for ... Embossed Vehicle Plates including Personalization, Enrolment, and IT Infrastructure ... leader in the production and implementation of Identity Management Solutions. ... January, however Decatur was selected for ...
(Date:5/20/2016)...  VoiceIt is excited to announce its new ... By working together, VoiceIt and VoicePass will offer ... take slightly different approaches to voice biometrics, collaboration ... usability. Both ... "This marketing and technology partnership allows ...
Breaking Biology News(10 mins):