MINNEAPOLIS, Minnesota — Biotech start-up VitalMedix wants to raise $1.5 million in convertible debt to continue developing a drug that protects the body after severe blood loss, according to a filing with the Securities and Exchange Commission.
The company makes Tamiasyn, which in animal tests protected cells, organs and tissue after more than 60-percent blood loss. The drug protects cells by providing an alternate energy source that’s usually supplied through blood flow, according to the company. It thinks the product is ideal for military medics, paramedics and trauma surgeons, and could cut death rates from auto accidents and gunshot wounds.
The Defense Advanced Research Projects Agency has funded some of VitalMedix’s research, and the University of Minnesota is a shareholder in the company.
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[...] company is also in the midst of raising $1.5 million in convertible debt, according to a filing with the Securities & Exchange Commission. Williams [...]
Comment by In survival mode, biotech startup VitalMedix leaves Minnesota for Wisconsin : MedCity News — July 10, 2009 @ 4:15 pm
Please….why is everyone making such a big deal!!!! I have worked in health care for so long and it hasn’t EVEN gone through FDA approval. Animal studies are one thing, studies on humans — well that’s a long way from clinical trials. Good luck on coming up with the venture capital. Also, why doesn’t someone mention that VitaMedix is owned by the same people who are doing the research and the University of Minnesota. Come on!!! Give us a Break!!!
Comment by Mary — August 20, 2009 @ 2:06 pm
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