- Regulonix to use proceeds for advancing drug candidates toward human clinical trials
- Patented lead compounds demonstrated in animal models to be non-addictive and more effective than morphine
- Focusing on a validated biological pain target but with unique mechanism of action
Tucson, AZ, July 10, 2018 (PRJET) – Regulonix Holding, Inc., a University of Arizona biotechnology start-up company focused on developing non-opioid therapeutics to relieve chronic pain, today announced seed investment of $2 million. UAVenture Capital Fund, LLC, the Tucson-based early stage capital fund dedicated to commercializing University of Arizona (UA) technology, led the seed round, with participation from Tucson’s Desert Angels, one of the country’s leading angel investor groups.
Regulonix will use the proceeds to fund several preclinical development milestones of its internationally patented lead compounds, demonstrated in animal models to be non-addictive and more effective than morphine. The company’s unique platform helps address a global pain management therapeutics market projected to reach $83B by 2024.
“UAVenture Capital is thrilled to invest in this UA-related company that offers cutting-edge science capable of having an enormous impact in the world to address the opioid addiction epidemic,” said Fletcher McCusker, CEO and founder of UAVC who also will join Regulonix’s board of directors. “We are proud to be part of the legacy being established by President Robert C. Robbins, the UA’s invention commercialization office Tech Launch Arizona, and our brilliant scientists, inventors and students associated with the UA.”
“Over 11.5 million Americans annually misuse prescription opioids, with 115 people dying each day from overdoses. This public health emergency is widely recognized by government agencies, including the CDC and FDA, as an urgent problem and one of their highest priorities” said Mike Sember, CEO of Regulonix. “The combination of our novel patented technology, promising compounds and a team with world-class expertise in ion-channel biology, pain channel research and drug delivery technology enabled us to gain seed funding support and attack this epidemic.”
Regulonix, led by experienced entrepreneur Mike Sember and University of Arizona Professor of Pharmacology, co-founder and Chief Scientific Officer Dr. Rajesh Khanna, is an early-stage biotechnology company developing non-opioid drugs for chronic pain. By indirectly targeting the sodium channel NaV1.7 – a well-established and genetically validated pain target – and focusing on the signaling pathways that control this channel’s activity, the Regulonix team has isolated compounds demonstrated in animal models to be non-addictive and more effective than morphine. This unique platform helps address a global pain management therapeutics market projected to reach $83B by 2024, affecting more than 100 million Americans and 1.5 billion people globally. For more information, visit www.regulonix.com
About UAVenture Capital
UAVenture Capital Fund, LLC or UAVC, is a Tucson-based investment fund designed specifically to help finance University of Arizona connected enterprises including the commercialization of faculty-led innovation originating at the University of Arizona. Please visit www.uaventurecap.com to learn more.
About Desert Angels
Desert Angels is a group of accredited investors who screen 300 applications per year and have invested over $50M to help launch more than 100 companies. For more information, visit www.desertangels.org.