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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