Navigation Links
JumpStart Ventures Invests In and Provides Entrepreneurial Assistance to Drug Development Company
Date:8/5/2010

CLEVELAND, Aug. 5 /PRNewswire/ -- JumpStart Ventures, which invests in and partners with innovative, early-stage companies in Northeast Ohio, announced an investment commitment of $250,000 in drug development company ChanRx. The two-year-old company is developing a pharmaceutical compound to treat atrial fibrillation, a heart condition that affects two million Americans, with 200,000 new cases being diagnosed each year.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20060209/CLJUMPSTARTLOGO )

(Logo:  http://photos.prnewswire.com/prnh/20060209/CLJUMPSTARTLOGO )

Atrial fibrillation is characterized by an irregular beating of the heart caused by misfiring of electrical impulses. The abnormal contracting causes decreased cardiac function, raising the risk of stroke and heart failure. An oral form of ChanRx's anti-arrhythmia drug, called Vanoxerine, has already demonstrated its ability to restore normal heart rhythm in a human clinical study. The study also showed an improved safety profile, as compared to other drugs in the market or currently in development. 

ChanRx, which is a spin-out from parent company ChanTest, will use a majority of the funding and the entrepreneurial development assistance provided by JumpStart Venture Partner, Kevin Mendelsohn, to complete development of an intravenous formulation of Vanoxerine. The intravenous formulation will enable quicker absorption and increased speed to efficacy when compared to other deliveries of the drug.  

"Drug therapy is the mainstay of treatment for this condition; unfortunately, the drugs used today have delivered unsatisfactory efficacy and undesirable safety profiles, including links to potentially lethal arrhythmias," said Arthur "Buzz" Brown, Founder of ChanRx. "ChanRx's pharmaceutical compound has demonstrated a superior safety profile in six previously conducted Phase I human clinical trials. We also showed in a Phase IIa trial that oral Vanoxerine is effective in restoration of normal cardiac rhythm. Taking the drug from an oral to an IV formulation will improve its effectiveness and this investment from JumpStart Ventures provides us with the resources and assistance we need to accelerate that process."

This investment represents JumpStart Ventures' 66th investment in its 49th company.

About ChanRx

ChanRx is a Cleveland-based drug development company focused on the commercialization of repurposed drug candidates. The company is a spin-out of ChanTest (www.chantest.com), a leading pharmaceutical testing service company which has developed the world's most complete library of validated human ion channel-expressing cell lines to serve all the ion channel needs of its pharmaceutical and biotech customers. ChanRx is developing an intravenous (IV) formulation of a drug to treat atrial fibrillation.

About JumpStart Ventures

JumpStart Ventures (www.jumpstartinc.org/ventures) invests in and forges partnerships with innovative, early-stage Northeast Ohio companies that have the potential to generate $30 to $50 million in revenues in five to seven years. It helps companies accelerate their time to venture-readiness by bundling guidance from experienced Venture Partners with seed investment capital. JumpStart Ventures is the investment arm of JumpStart Inc., a nationally recognized non-profit organization creating economic transformation by providing resources to entrepreneurs leading high potential early-stage companies.


'/>"/>
SOURCE JumpStart Ventures
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. JumpStart Invests in Checkpoint Surgical
2. Michael J. Fox Foundation Awards Up to $3 Million to Industry Teams to Jumpstart Promising PD Drug Development
3. Sangon & Bio Basic Inc. Closes $10 Million Round of Investment by Qiming Ventures
4. BIO Ventures for Global Health Opens San Francisco Office; Hires New Senior Staff
5. iPierian Closes $22 Million Series B Financing Led By Google Ventures
6. Phreesia to Accelerate Growth with $16 Million Investment Led by Ascension Health Ventures
7. Fulcrum Ventures Leads $1.25 Million Investment in Path-Tec, LLC
8. ThermalTherapeutic Systems Completes $2.75 Million Series A Financing With Originate Ventures
9. Cordex Pharma Announces Strategic Master Services Equity Agreement With Cato BioVentures
10. 7 Health Ventures Invests in Tulip Medical
11. University of Michigan Wolverine Venture Fund Invests in Delphinus Medical Technologies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/5/2017)... Oct. 5, 2017  In response to the ... and Maxillofacial Surgeons (AAOMS) released prescribing recommendations that ... be used as a first-line therapy to manage ... Recognizing the value and ... Paper "Opioid Prescribing: Acute and Postoperative Pain Management" ...
(Date:10/2/2017)... -- Diplomat Pharmacy, Inc. (NYSE: DPLO ) ... , and named its founder as Diplomat,s chief information ... Tennessee , will operate under Diplomat subsidiary Envoy ... for health care partners to include IT outsourcing, consulting, ... "In an interoperable world, technology delivers comprehensive insight and ...
(Date:10/2/2017)... Oct. 2, 2017 The Rebound mobile app is ... to reverse the tide of prescription drug addiction. The app ... medicine intake and stepping down their dosage in a safe, ... in December 2017; the first 100,000 people to sign up ... http://www.rebound-solution.com/ ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... ... Lori R. Somekh, founder of the Law Office of Somekh & ... and special needs planning attorneys. “Membership in ElderCounsel helps our office remain up to ... with elder law attorneys nationwide,” said Somekh. , ElderCounsel was founded ...
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th ... Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s CEO, ... The fun run is geared towards children of all ages; it is a non-competitive, ...
(Date:10/13/2017)... ... October 13, 2017 , ... “America On The Brink”: the Christian history of ... Brink” is the creation of published author, William Nowers. Captain Nowers and his ... veteran, he spent thirty years in the Navy. Following his career as a ...
(Date:10/12/2017)... ... , ... IsoComforter, Inc. ( https://isocomforter.com ), one of the Nation’s ... design of the shoulder pad. The shoulder pad provides optimal support and full ... while using cold therapy. By utilizing ice and water that is circulated from an ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a leader ... a 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were ... 11, 2017. , The annual award competition recognizes editorial and design excellence across a ...
Breaking Medicine News(10 mins):