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:1/19/2017)... 2017 Report Details ... Alzheimer,s Disease Therapeutics ... – our new study reveals trends, R&D progress, and ... affecting the Alzheimer,s disease therapeutics and diagnostics market. Our ... questions: - How is the Alzheimer,s disease therapeutics and ...
(Date:1/19/2017)... Many patients don,t realize that they may ... pharmacy just a few blocks away charges only $25 ... Medicationdiscountcard.com has created a price comparison engine ... their medication will cost at most nearby pharmacies. ... Medicationdiscountcard.com takes all of the hassle ...
(Date:1/19/2017)... LONDON , January 19, 2017 Incretin ... Sympathomimetics and Others The global anti-obesity drugs ... the first half of the forecast period and CAGR of 38.7% ... expected to grow at a CAGR of 32.8% from 2016 to ... million in 2021, and $24,063 million in 2027. ...
Breaking Medicine Technology:
(Date:1/19/2017)... ... ... here, many people will have to clear snow with snow blowers or shovels from driveways ... can be dangerous when used incorrectly. That’s why Amica Insurance is sharing the ... blowers:, , When removing wet snow or debris from the blower, ...
(Date:1/19/2017)... (PRWEB) , ... January 19, 2017 , ... ... for tech innovators, engineers, and scientists from around the world, announces the launch ... users a quick and easy portal to research breakthroughs and trending news, vital ...
(Date:1/19/2017)... New York (PRWEB) , ... January 19, 2017 ... ... high definition dynamic telemedicine solutions, has recently unveiled impressive transportable capabilities with their ... newly designed product is an extension to RMT technology that delivers HD, dynamic, ...
(Date:1/19/2017)... ... January 19, 2017 , ... WholeHealth ... this year. Drs. Alexander Paziotopoulos, Andrew Petersen and Trish Henrie-Barrus will be present ... the clinic’s leading recovery program. , “We know it’s easy to get ...
(Date:1/19/2017)... ... January 19, 2017 , ... Dr. ... of Dermatology and fellowship trained Mohs and cosmetic surgeon. After extensive dermatology research ... Li completed his internship in internal medicine at the Emory University and dermatology ...
Breaking Medicine News(10 mins):