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Posts Tagged ‘stroke’

TODAY’S HEADLINES:

mirna-tx-logo-150px.gifMirna Thera spins out of Asuragen with $3M – Mirna Therapeutics, a newly minted Austin, Tex., startup focused on “microRNA” (miRNA) drugs, spun out from its parent Asuragen with $3 million in seed capital. The new company is taking Asuragen’s miRNA intellectual property with it.

MicroRNAs, like small interfering RNAs (siRNAs, for those into the acronym soup here), are short stretches of nucleic acid that can silence the activity of particular genes. These miRNAs, however, are encoded in the human genome and appear to affect multiple genes at once by interfering with “master” regulatory genes. Several miRNAs have been linked to cancer, suggesting that measuring levels of miRNAs might yield early detection of tumors.

Asuragen will continue to explore miRNAs as possible diagnostic tools, while Mirna will look into developing particular miRNA molecules as cancer drugs. Mirna initially plans to target lung cancer, prostate cancer and acute myeloid leukemia. None of its drug candidates are ready for testing in humans yet.

coaxia-logo-150px.gifStroke-therapy startup CoAxia raises $12M –  Maple Grove, Minn.-based CoAxia, a device startup focused on treatment for clot-related strokes, raised $11.5 million as an extension of its third funding round. Its backers included existing investors Canaan Partners, Prism Venture Partners, Baird Venture Partners, Affinity Capital Management, Johnson and Johnson Development and SVB Capital Partners.

CoAxia is developing a catheter designed to increase the flow of oxygenated blood in the brains of stroke patients by restricting its flow to the lower extremities, thereby shunting additional blood into brain vessels that haven’t been blocked by a clot. The minimally invasive device is threaded into a central artery near the kidneys, where a doctor can inflate two balloons designed to block roughly 70 percent of the blood flow to the lower body. The device is currently in a late-stage clinical trial.

TODAY’S HEADLINES:

circassia-logo-150px.gifImmune-system specialty pharma Circassia raises £11M – Circassia, an Oxford, England biotech focused on immune-system disorders, raised £11 million ($21.8 million) in a second funding round. Investors included Goldman Sachs, Invesco Perpetual, Imperial Innovations and Lansdowne Partners.

The company is currently developing a range of allergy treatments by “retraining” the immune system not to react to allergens such as cat dander, dust mites, ragweed and grass. Circassia’s approach is to isolate short stretches of the allergy-causing proteins and expose them to the immune system’s antigen-presenting cells, attracting other cells that, though a complex biochemical dance, teach the immune system to “tolerate” the original protein.

Circassia is “preparing to complete” mid-stage trials ‘of its lead candidate, which is aimed at treating allergy to cat dander. The company says its technology should also be useful in preventing the rejection of transplanted organs.

cs-keys-logo-150px.gifCancer-biomarker biotech CS-Keys takes in $6.3M – CS-Keys, an Indianapolis biotech working on protein-based “biomarkers,”, raised $6.3 million in a first funding round. Investors included Triathlon Medical Ventures, Clarian Health Ventures, Prolog Ventures and Ceres Venture Fund.

CS-Keys aims to find proteins that indicate the presence and status of tumors, and which can serve as a diagnostic for early detection or for monitoring the status of cancer patients. The company says its first product will be a pathology stain for detection of proliferating cell nuclear antigen in biopsied tumor samples. As a followup, the company intends to pursue a blood test for detecting the return of tumors in patients whose cancer has gone into remission.

myomo-logo-150px.gifNeuro-robotic device maker Myomo receives $3M – Boston’s Myomo, a “neurorobotics” company designing technology to help patients learn to regain the use of weakened or partially paralyzed limbs, raised $3 million in a second funding round, VentureWire reports. Angel investors provided the funding.

Founded in 2006, Myomo has developed a “smart” elbow brace for aiming to relearn how to move stroke-impaired arms. The brace senses electrical nerve signals in the skin’s surface, generated when patients try to move an arm, and then electromechanically moves the arm as the patient intended. The idea is to provide real-time feedback so that patients can re-educate their muscles in order to regain motor control.

The Myomo device has been studied in six patients, who demonstrated a statistically significant improvement in two measures of movement. The company has two additional studies underway in chronic and sub-acute stroke patients. The device has been cleared for hospital use, although Myomo eventually hopes to win approval for home use as well.

Myomo hopes to add another $8 million from venture capitalists by this summer, in what may either be a third round or an extension of the second. The current funding will allow the company to roll out its device to medical facilities nationwide.

Featured companies: Concentric Medical, Vertebration, Vision RT, Kemeta

concentric-medical-logo.jpgClotbuster Concentric Medical files for $69M IPO — Mountain View, Calif.-based Concentric Medical, which makes and markets devices for removing dangerous blood clots from the brains of stroke patients, filed to raise up to $69 million in an initial offering. The company’s devices consist of catheters that are threaded into the body’s circulatory system via the femoral artery in the groin and passed into the brain to the site of the clot. There, a wire at the end of the catheter coils around the clot, permitting its removal.

Although Concentric’s device has been approved since 2004, the company is still losing money despite briskly expanding sales. The company posted a $6.9 million net loss in 2006, down from $9.7 million in 2004. Sales rose to $11.3 million from $2.3 million over the same period.

Concentric’s clot-removal device is based on technology licensed from the University of California. Among the risk factors noted by the company is the fact that the device can malfunction and sometimes causes additional injury to the delicate blood vessels of the brain. Concentric said it has submitted 82 medical-device reports to the FDA as of June 30; in 56 of those events, the device’s tip fractured, and in 22 instances a blood vessel was damaged.

Spinal implant maker Vertebration raises $750K — Vertebration, a Columbus, Ohio, developer of spinal implants, raised a $750,000 seed round, VentureWire reports (subscription required). The funding consisted of $500,000 in venture debt arranged by NCT Ventures and a $250,000 private placement to angel investors.

The company may seek a first funding round of $3.5 million to $10 million later this year, according to VentureWire. Its Web site should be active next week.

From the VentureWire piece:

Columbus, Ohio-based Vertebration plans to take its first product, a spinal implant called Xycor, to market in late October. The implant works to restore the height and space between two vertebrae or a partial vertebra through a minimally invasive procedure. Xycor received 510(k) clearance from the Food and Drug Administration earlier this year. Vertebration is developing instruments to accompany its lead product, as well as other products for the spine market.

vision-rt-logo.jpgVision RT gets $500K for radiation imaging — Vision RT, a London-based developer of three-dimensional imaging tools for guiding radiation therapy, raised $495,725 (£250,000) from the Capital Fund, VentureWire reports. The company’s tools provide a three-dimensional model of a patient in order to properly direct radiation-beam treatment for cancer and other diseases.

kemeta-logo.jpgKemeta takes equity investment from Dow Chemical for breath analysis — Kemeta, a Phoenix developer of breath-analysis systems, said Dow Chemical took a minority equity stake in the company. Details of the transaction weren’t disclosed.

Kemeta aims to produce a palm-sized analyzer that can measure breath acetone, a by-product of burning fat, for use in obesity. The sensor technology was originally developed by Dow.

(CORRECTED: See below.)

Featured companies: VistaGen Therapeutics, MindWeavers, Cutanea Life Sciences, Heptares Therapeutics

vistagen-logo.jpgVistaGen raises $3.75M for stem-cell based drug discovery — South San Francisco, Calif.-based VistaGen Therapeutics, a biotech that uses human embryonic stem cells to discover new drugs, raised $3.75 million in a bridge financing as it prepares to raise up to $20 million in a fourth round, VentureWire reports (subscription required). Montaur Capital Partners provided the funding.

VistaGen, founded in 1998, isn’t your typical stem-cell company. Where companies ranging from Geron and Advanced Cell Technology to Novocell aim to use the controversial cells — which must be derived from five-day-old embryos in a destructive process — directly as therapies to help regenerate damaged organs, VistaGen merely grows stem-cell cultures in its labs and uses those cultures to discover and run preliminary safety tests on drug candidates.

The embryonic cells are capable of “differentiating” into any type of cell in the body, which VistaGen says makes them valuable for determining how an experimental drug molecule will interact with living human tissue. The company uses its stem-cell “screens” to identify promising small-molecule drugs (that is, compounds that can be swallowed rather than injected) and to determine what side effects they might cause once ingested. Over time, VistaGen suggests, it might develop screens for drugs that trigger stem cells’ regenerative powers, potentially inducing cellular repair in conditions such as heart disease or diabetes.

For now, however, VistaGen’s lead drug candidate is a relatively prosaic compound called AV-101 that the company plans to begin testing against epilepsy later this year. AV-101 is a “prodrug” — a molecule that’s converted into an active form by the body’s natural metabolism — that turns into a neuroinhibitor once it reaches the brain. In addition to epilepsy, VistaGen suggests that the drug may also have uses in stroke, neuropathic pain and neurodegenerative diseases such as Alzheimer’s disease. For more detailed info, see the company’s Web site here and here.

mindweavers-logo.jpgOxford’s MindWeavers raises $1.1M for mind-altering software — MindWeavers, an Oxford, England-based software company that develops software designed to improve mental function, raised $1.1 million (£558,000) through City and Merchant Group. Next year, the company hopes to raise up to £1 million with a listing on London’s Plus Markets electronic exchange.

MindWeavers develops its programs based on neuroscience research from Oxford University, which spun out the company in 2000. Its first product was Phonomena, a interactive game for children that the company says builds auditory discrimination and language skills. Several other programs are designed to improve “neuroplasticity” and to stimulate brain activity in middle-aged and elderly people in order to ward off age-related cognitive decline. VentureWire has more.

cutanea-logo.jpgSkin-care firm Cutanea raises “millions” in convertible debt — Cutanea Life Sciences, a Cambridge, Mass., specialty pharmaceutical company focused on dermatology, raised a “multi-million” dollar round of convertible debt, VentureWire reports. Institutional investors such as Nexus Medical Partners provided the funding. Cutanea licenses neglected or cast-off experimental drugs from universities or other companies and runs them through human tests.

Heptares Therapeutics spins out of Britain’s MRC — The MRC Laboratory of Molecular Biology has spun out a new company, Heptares Therapeutics, with undisclosed seed funding from MVM Life Sciences Partners. The company will focus on drugs for diseases of the nervous system and metabolism. (Hat tip: PE Hub.)

CORRECTION: Due to incorrect information supplied by VentureWire, the VistaGen Therapeutics item originally stated that Montreux Equity Partners provided funding. In fact, Montaur Capital Partners led the funding. The VentureWire correction is here.

buffalo-roundup-1.jpgHouse-Senate confrontation set over biogenerics – Late last month, a key group of senators reached agreement on legislative provisions that would authorize copycat versions of biotech drugs, which are typically complex proteins manufactured by genetically engineered cells (see details here and here). These provisions would finally put biotech drugs — which don’t face cut-rate competition once their key patents expire — on a par with traditional pharmaceuticals, and have been a long time in coming. They’re not perfect, but they’re about as good a compromise as we’re likely to see any time soon..

The catch is that biogenerics supporters want to attach this langauge to a reauthorization of the FDA’s user-fees act, the awkwardly named PDUFA, which has to pass by September to keep the FDA operating smoothly. The Senate’s version passed in May, whereas the House just approved its version yesterday — but didn’t include a biogenerics pathway. The senators want to add it to their version of the bill, which has to be reconciled with the House version in a conference committee. But key House members, including Energy and Commerce Chairman John Dingell, a Michigan Democrat, appear likely to object, since they haven’t had a chance to weigh in on the provision.

The upshot: Turf wars between the houses of Congress may cost us our best shot at biogenerics legislation in some time. Tying the measure to PDUFA would be one of the best ways to sidestep legislative roadblocks that opponents and their biotech/pharma backers are likely to throw up — but the window is closing rapidly. The WSJ has more here.

Digital medical records are good for your health — or are they? One of the strongest arguements for digitizing medical records is that they’ll help prevent medical errors and improve medical care. A recent review of other studies in the journal Health Services Research gave digitized records a strong vote of confidence when it found that hospitals that switched to electronic drug-ordering systems saw a 66 percent drop in medication errors. (Such mistakes apparently kill 500,000 U.S. hospital patients every year.) Similarly, a report from the Pharmaceutical Care Management Association predicts that electronic prescribing could save Medicare as much as $29 billion over the next two years while preventing two million medication errors.

As with any technology, however, electronic records are no panacea. Another study of walk-in doctor visits found no improvement in treatment quality among practices that used electronic medical records versus those that still relied on paper. The study’s conclusion: Implementing digitized records is just the first step — doctors and medical groups still need to do a lot of work to get the most out of them.

On a related note, a Senate committee recently passed legislation that would offer subsidies to convince doctors to install digital health-record systems.

RNAi is hot, hot, HOTOnce again, it’s boom times for a new drug technology, and this time the spotlight is on RNA interference — a fascinating but largely unproven method for turning off individual genes by using a short stretch of double-stranded RNA to activate ancient gene-silencing machinery inside cells.

The party really got started last year, when Merck paid $1.1 billion to acquire Sirna Therapeutics, a fledgling RNAi company that had barely managed to move a single drug into an early-stage trial. Now things have heated up even further. Last Friday, AstraZeneca struck a $400 million deal with Silence Therapeutics. Then on Tuesday, Roche stepped up to forge a $1 billion deal with Alnylam, an early pioneer in the area.

What’s worth remembering is that no matter how promising a technology like RNAi seems, putting it to practical use almost always takes far longer and costs more than people expect in the early stages. Just take a look at the roll call of other drug technologies that have undergone similar cycles of hype and disappointment — gene therapy, antisense, therapeutic vaccines. All remain promising — but none of them worked the first time out of the gate. Even monoclonal antibodies took close to two decades before anyone could make a reasonable drug with them. Maybe RNAi will be different — but I wouldn’t bet my wallet on it.

Have cancer vaccines gotten a raw deal? A paper in Clinical Cancer Research (described here) argues that regulators and companies may be too quick to dismiss clinical-trial results if they focus on tumor shrinkage rather than long-term outcomes like survival. That may well be true, as tumor shrinkage is a notoriously bad measure of whether drugs work or not, although it’s also worth noting that a reconsideration still wouldn’t have helped Dendreon’s Provenge vaccine, since its survival data was so statistically equivocal. (Separately, the SEC has now opened an informal inquiry into Dendreon’s public disclosures about Provenge this year.)

DNA transplant “transforms” microbial species – J. Craig Venter’s group at his eponymous institute takes the honors, described here in the WaPo. Next up: Transferring an entirely synthetic genome into a DNA-less microbe to create “artificial life,” something Venter says may happen within months. Similarly, here’s the NYT on the new science of “synthetic biology.” Brace yourselves.

Does “pay for performance” improve medical care? A few weeks ago, the WSJ said no, citing a Medicare experiment. Today, the NYT says yes, citing… a Medicare experiment! I’ll have more to say once my head stops hurting.

Pre-implantation genetic diagnosis may harm fertility – Or so say the authors of a Dutch study described by the WSJ here. Several researchers seem to think the results need to be verified elsewhere before abandoning the procedure, in which a single cell is extracted from an IVF embryo for genetic analysis.

Stem cells tailor their own environments — At least according to Canadian researchers, who explored the specifics of how embryonic stem cells communicate with the cells around them. The Globe and Mail has the story.

Simple enzyme short-circuits bacterial drug resistance – Basically, it prevents bacteria from swapping the genes that confer resistance to antibiotics.

High-throughput output –

  • Vermont sets up a Web site comparing pharmacy drug prices (Kaiser)
  • Researchers discover molecule that may promote food allergies (BBC)
  • Breast-cancer risk genes may not influence survival (WSJ)
  • Congressional Democrats want to know who muzzled the former surgeon general (Bloomberg)
  • Scientists identify gene linked to autism (BBC)
  • Robotics help stroke patients regain function (NYT)

(NOTE: This item originally incorrectly stated that J. Craig Venter’s company, Synthetic Genomics, was involved in the research that transplanted one microbe’s genome into another. In fact, it was Venter’s own research institute, the J. Craig Venter Institute.)

Intelect Medical, a Cleveland developer of neuromodulation devices for the treatment of brain injury, raised $7 million in a second funding round. The company is currently exploring ways of using deep-brain stimulation, in which implanted electrodes zap particular regions of the brain with calibrated jolts of electricity, in order to rehabilitate brains damaged by injury or stroke. DBS — which is sometimes described as a “pacemaker for the brain” — is currently approved for the treatment of Parkinson’s disease and various forms of tremor.

Medical-device companies Boston Scientific and Greatbatch funded the round. In 2005, Intelect raised $3 million in a first round from Biomec, a device maker that was later acquired by Greatbatch.

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