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.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
