Tucson’s NuvOx adds plant to make drugs in-house | Business News

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NuvOx also conducts preclinical studies using its drugs to treat traumatic brain injury, heart attacks, shock from profuse bleeding, and a common complication of sickle cell anemia.

The COVID-19 pandemic has also made fundraising more difficult for the privately owned company, said Unger.

The company is now aiming to raise a bridging round of $ 3 million and will need $ 15 to 20 million to complete the next rounds of clinical trials, he said.

“I think you have to meet in person to close the deal, and right now it’s opening,” said Evan Unger, who has traveled the country often for investor presentations.

Microvascular Therapeutics, with Wyatt Unger as chief medical officer, is developing an improved version of Definity, an ultrasound contrast agent that the elder Unger developed in the 1990s and sold to chemical giant DuPont in 1999 for about $ 40 million.

First launched and approved for cardiac ultrasound imaging in 2001, Definity has since changed hands but is still the most widely prescribed drug of its kind in the United States

In 2018, Microvascular Therapeutics received a $ 1.7 million grant from the National Institutes of Health to develop its first drug, MVT-100.

The company is conducting a Phase I clinical trial to evaluate the safety and effectiveness of the new contrast agent when used for echocardiograms – ultrasound imaging of the heart – compared to Definity.

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