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

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 w
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SOURCE JumpStart Ventures
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