Navigation Links
SironRX Therapeutics Raises $3.4 Million Series A
Date:8/16/2011

CLEVELAND, Aug. 16, 2011 /PRNewswire/ -- SironRX Therapeutics, a biotechnology company developing novel regenerative therapies to accelerate dermal and bone healing, announced today a $3.4 million Series A investment led by North Coast Angel Fund.  Additional investors include Cleveland Clinic, JumpStart Inc., Fletcher Spaght Investments, Glengary LLC, Ohio Tech Angel Fund III, Early Stage Partners, X Gen Ltd. and a significant number of individuals.  

(Logo: http://photos.prnewswire.com/prnh/20110816/DC52317LOGO)

"We are excited to have secured this financing from a strong investor syndicate that includes both venture capitalists and angel investors," states Rahul Aras, Ph.D., who is SironRX's co-founder, President and CEO. "We will use the funds to build the SironRX team and execute on key clinical-stage milestones."

SironRX has exclusively licensed JVS-100 in the fields of dermal and bone repair from Juventas Therapeutics.  JVS-100 encodes Stromal cell-Derived Factor 1 (SDF-1), a naturally occurring factor that activates the body's own repair processes.  Juventas is developing JVS-100 for treatment of cardiovascular disease and recently completed a successful Phase I clinical trial demonstrating safety and preliminary efficacy in Class III heart failure patients.

"While the SDF-1 repair biology is well-conserved in nearly all end-organ systems, including the heart, skin and bone, the final product formulations, delivery and target clinical indications will differ significantly between the two companies," indicates Marc Penn, M.D., Ph.D., SironRX's Co-Founder and Chief Scientific Officer and Director of Research for the Summa Cardiovascular Institute.  "Separating the companies allows each to develop SDF-1 for very different market segments in a focused and orderly way."

SironRX will undertake its initial clinical trials to evaluate the safety and efficacy of JVS-100 for promoting dermal wound closure and scar reduction post-surgery.  In addition, there is potential to address a broader spectrum of dermal and bone related clinical indications, including burns, chronic wounds and fractures at a future date.  

"SironRX presents an outstanding combination of strong technology, large target markets and a proven team of founders that we are excited to back," states Claiborne Rankin, Managing Member of North Coast Angel Fund and SironRX Board Chairman.  "We see the very broad, heavily Ohio-based investor group as a further indicator of the region's commitment to supporting strong companies in the biomedical field."

While the financing primarily involved Ohio-based investors, Boston-based Fletcher Spaght Ventures (FSV) joined the investment syndicate.  "We are very pleased to participate in the SironRX financing, our second investment in Ohio.  We continue to believe that the superior scientific and technical innovations reflected in SironRX show the enormous potential for venture capital investment in Ohio," states Linda Tufts, General Partner at FSV and SironRX Board Director.

About SironRX Therapeutics, Inc.

SironRX is a venture-backed biotechnology company developing novel therapies exclusively licensed from Juventas Therapeutics and Cleveland Clinic that promote wound repair and prevent scarring of dermal wounds.  Our lead product, JVS100 is a clinically tested product that encodes Stromal cell-Derived Factor-1 (SDF-1).  SDF-1 is produced by the body in response to tissue injury and activates natural repair processes to prevent cell death and recruit stem cells to the damaged organ.  For its first clinical indication the Company will evaluate the safety and efficacy of JVS-100 in the treatment of post-surgical wounds.


'/>"/>
SOURCE SironRX Therapeutics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Novel Flavonoid Compounds That Significantly Reduce Cancer Cell Growth Are Available For Further Research and Development as Anti-Cancer Therapeutics
2. United Therapeutics Corporation Reports Second Quarter 2011 Financial Results
3. Peloton Therapeutics Completes $18 Million Series A Financing
4. United Therapeutics Corporation To Announce Second Quarter 2011 Financial Results Before Market Open on Thursday, July 28, 2011
5. Regulus Therapeutics and GlaxoSmithKline Name a Third Alliance microRNA Target Triggering a Preclinical Milestone Payment
6. Oxygen Healthcare (O2h) Announces Expanded Chemistry Collaboration With Heptares Therapeutics
7. Dr. Andrew Scharenberg, M.D., to Serve as Chief Scientific Officer for Cellectis therapeutics
8. Family Foundation of Business Leader Invests $4.55 Million in Northwest Biotherapeutics for Promising Clinical Trials in the US and Europe
9. Amsterdam Molecular Therapeutics Files Glybera® European Marketing Application for Re-examination
10. Amsterdam Molecular Therapeutics Appoints Dr. Carlos R. Camozzi as Chief Medical Officer
11. Sorrento Therapeutics Innovative Approach to Developing Vaccines and Therapeutics for MRSA Receives Continued Support From the National Institute of Allergy and Infectious Diseases
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... , ... May 25, 2016 , ... ... Fitzmaurice recently became double board-certified in surgery and surgery of the hand by ... Fitzmaurice is no stranger to going above and beyond in his pursuit of ...
(Date:5/25/2016)... , ... May 25, 2016 , ... ... Food and Drug Administration (FDA) has granted the company’s orphan drug designation request ... second orphan drug designation granted by the FDA. , Spinocerebellar ataxia is ...
(Date:5/23/2016)... ... May 23, 2016 , ... The need for blood donations in South Texas and across the ... Texas Blood & Tissue Center, blood donations are on the decline. In fact, donations across ... down 21 percent in South Texas in the last four years alone. , There is ...
(Date:5/23/2016)... ... May 23, 2016 , ... RoviSys, a ... based in Aurora, Ohio, has broken ground on a new building in Holly ... Park area, this new location solidifies a commitment to business in the region. ...
Breaking Biology Technology:
(Date:5/3/2016)... , May 3, 2016  Neurotechnology, a ... the MegaMatcher Automated Biometric Identification System (ABIS) ... large-scale multi-biometric projects. MegaMatcher ABIS can process multiple ... using any combination of fingerprint, face or iris ... MegaMatcher SDK and MegaMatcher Accelerator , ...
(Date:4/26/2016)... LONDON , April 26, 2016 ... EdgeVerve Systems, a product subsidiary of Infosys (NYSE: ... a partnership to integrate the Onegini mobile security ... (Logo: http://photos.prnewswire.com/prnh/20151104/283829LOGO ) The ... enhanced security to access and transact across channels. ...
(Date:4/15/2016)... CHICAGO , April 15, 2016  A ... companies make more accurate underwriting decisions in a ... offering timely, competitively priced and high-value life insurance ... health screenings. With Force Diagnostics, rapid ... and lifestyle data readings (blood pressure, weight, pulse, ...
Breaking Biology News(10 mins):