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Neuraptive Therapeutics, Inc. announced today that it has obtained $1 million in funding. The seed round was led by the Central Texas Angel Network (CTAN) with participation from New Rhein Healthcare Investors LLC and several angel investors. The Company will use the funds to further develop its flagship product, the AxoFuse Nerve Repair SystemTM (AxoFuse® ) and expand operations.
When a peripheral nerve is cut or crushed, the patient experiences immediate loss of sensation and function. Traditional surgical nerve repair leads to slow recovery and poor clinical outcomes. Surgical techniques facilitate the natural regeneration process but no current technology can increase the speed or quality of natural nerve regrowth. As a result, patients with peripheral nerve injuries often experience prolonged or permanent disability. Neuraptive aims to improve clinical outcomes for patients with peripheral nerve injuries with AxoFuse® , a novel therapeutic kit for use during nerve repair surgery.
AxoFuse® utilizes a well-understood method, along with a proprietary drug delivery system, to induce the fusion of cells called PEG-fusion. Previously used in biotech for antibody production, PEG-fusion has been adapted for use in a patient to induce the fusion of recently severed neurons within injured peripheral nerves. This method reconnects the severed axons to dramatically reduce recovery time and significantly improve function compared with the natural regeneration process. Because AxoFuse® leapfrogs contemporary surgical repair it has the potential to revolutionize surgical repair of injured peripheral nerves.
Neuraptive is developing AxoFuse® for use in clinical trials. Extensive preclinical data and limited clinical case studies support the hypothesis that AxoFuse® will greatly exceed the standard of care in surgical nerve repair. “This is the first product that maintains the neural network downstream of a peripheral nerve injury - doing so enables significantly faster recovery with better functional outcomes for the patient” said Gino DiSciullo, Board Director. “We believe this product will change the standard of care in the treatment of peripheral nerve injuries”. The Company intends to present AxoFuse® to US FDA for consent to clinical development within the next six months.
Original Article: Neuraptive Therapeutics, Inc. raised 1 million in a seed funding roundNEXT ARTICLE
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