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JUNE 30th, 2005
Torax Medical Completes $10 Million Series B Financing
Torax Medical Inc. has completed a $10 million Series B round of financing. The round was led by Thomas, McNerney
& Partners. Other investors included , Mayo Medical Ventures and Sanderling Ventures. The company intends to use the proceeds
for pre-clinical testing of an implant for the treatment of gastroesophageal reflux disease (also referred to as GERD or acid
reflux). According to the company, chronic acid reflux affects about 20 million people in the United States.
Todd
Berg, Torax Medical's CEO indicated that the technology under development would overcome limitations of present day treatments
of the problem, "We believe our proprietary technology has the potential to correct the underlying defect of GERD and help
millions of the people who suffer from this disease. Our objective is to provide a measurable cure for this high health-risk
condition in a way that is minimally invasive to the patient."
JUNE 22nd, 2005
TriMed Series A Funding for Protein Development for Intestinal
Infections Treatment – Non-Antibiotic Based
TriMed Research, Inc. has secured 5 million Euros in a Series A funding round. The funding
is expected to go towards clinical studies for the company’s MAA technology. MAA is an anti-infective compound used
for the treatment of gastrointestinal diseases. Because the technology is not an anti-biotic, bacteria cannot develop a resistance
to it. According to Dr. David Winter, CEO at TriMed Research. "MAA represents an opportunity for the development and introduction
of a new class of anti-infective compounds. Unlike antibiotics, MAA does not have the potential of resistance development
and does not fall under the constraints of veterinary use of antibiotic therapy."
JUNE 15th, 2005
GenoMed, Inc, (National Quotation Bureau's Pink Sheets Symbol GMED),
has been allowed claims and will be issued a patent by the United States Patent Office for a technology that treats acute
kidney failure without a dialysis machine. In lieu of the traditional and expensive dialysis machine, the company has developed
a drug treatment based on an existing generic drug, which the company reports has an initial success rate of over 70 percent.
The company has plans for a more extensive trial.
GenoMed indicates that a dialysis-free treatment offers those in
adverse conditions, where access to kidney dialysis machines is difficult, such as war zones or impoverished countries, a
life-saving alternative. The company also indicated that first world countries interested "in reducing healthcare costs and
improving the atrocious mortality of acute renal failure" may want to investigate the company's treatment method.
JUNE 13th, 2005
Gates Foundation Grants $21.8 Million to Sabin Vaccine Institute
The Bill & Melinda Gates Foundation have donated $21.8 million to the Albert B. Sabin Vaccine
Institute, a vaccine development organization. The Sabin Vaccine Institute (SVI) plans to use the grant for its Human Hookworm
Vaccine Initiative (HHVI). Phase I safety trials. The vaccine is expected to manufactured in Brazil, where the disease is
endemic.
According to the organization, over 740 million individuals worldwide
are host to the dangerous parasite. Because the hookworm extracts large quantities of blood, it is a severe problem with pregnant
woman and children. According to H.R. Shepherd, SVI Chairman, "The Gates Foundation again has demonstrated its commitment
to achieving equity in global health, particularly among 'the poorest of the poor,' by awarding nearly US$40 million to HHVI
since 2000. Without this support, we simply could not develop a human hookworm vaccine."
JUNE 9th, 2005
Curon Medical, Inc. (NASDAQ:CURN) has reported it raised $8.8 million
by issuing over 13 million shares of common stock at a price of $0.65 a share.
The company indicated that it would use the funding to further develop
its radio frequency (RF) energy technology for the treatment of acid reflux with its Stretta System and bowel incontinence
with the Secca System. Both systems already have received U.S. Food and Drug Administration clearance for the treatment of
the respective problems.
MAY 18th, 2005
Tranzyme Secures $32 Million to Accelerate
Clinical Development
Tranzyme Pharma, a biopharmaceutical company focused on gastrointestinal disorder treatment
technology, has completed an oversubscribed round of financing valued at $32 million. Lead investors in the round included
H.I.G. Ventures, Thomas, McNerney & Partners and Quaker BioVentures. Other investors included Business Development Bank
of Canada, Desjardins Venture Capital, Pacific Rim Ventures and The Solidarity Fund.
Tranzyme has in development orally bioavailable, small molecule
therapeutics for gastrointestinal (GI) disorders. Its products planned for clinical evaluation include TZP-101, which is designed
for the treatment of post-operative ileus. Additionally, the company has developed pre-clinical small molecule compounds for
diabetic gastroparesis, irritable bowel syndrome and functional dyspepsia. The company notes that its products correct GI
problems as opposed to just providing relief from symptoms.
MAY 10th, 2005
GenoMed Furthers Efforts to Educate Physicians about Advances in Medicine
and Aging Gene
GenoMed Inc. (National Quotation Bureau's Pink Sheets Symbol GMED), a disease management
company, will have its CEO speak at the 25th Class Symposium at Harvard Medical School on June 9, 2005. The talk continues
an effort by the company to educate the world about the all-important medical advances that medical practitioners have not
yet fully adopted, but could. The speech will be on Clinical Genomics.
David Moskowitz MD, CEO at GenoMed, and a graduate
of Harvard, commented on the honor of the invitation and his own efforts to inform practitioners of the need for clinical
genomics in every doctor's office, "It's a tremendous honor to be selected to speak at our 25th medical class reunion. Since
publishing three years ago that angiotensin I-converting enzyme ('ACE') might be the aging gene, I've been trying hard to
get the word out. Last week at 'World DNA and Genome Day' in Dalian, China, the reception was quite enthusiastic. Speaking
at Harvard next month should be equally productive. I've already gotten inquiries from Harvard Medical School alumni who've
seen the Class Day program. The point of my talk will be that all physicians should be practicing clinical genomics already."
Dr. Moskowitz implied that ignorance of today's revolutionary medical technology, especially in the medical community,
has devastating results, "GenoMed's primary goal right now is to educate the 80 million American Baby Boomers and their physicians,
not to mention the rest of the world, that medicine has already been revolutionized. Unfortunately, an entire cohort of kidney
patients is just now going on dialysis in the U.S. because their physicians didn't hear about our published results three
years ago. If we'd gotten to these patients then, we could have kept them off the kidney machine now. Getting the word out
to patients and their physicians in time is absolutely critical. Disease doesn't wait."
April 25th, 2005
Uroplasty, Inc. (OTC:UPST) (BULLETIN BOARD: UPST), a maker of minimally
invasive medical devices for the incontinence market, has obtained $7.5 million in funding through a Common Stock and warrant
offering.
Sam B. Humphries, President and Chief Executive Officer of Uroplasty,
Inc commented on the use of funds, and its agreement with CystoMedix, Inc. "As we plan and execute on new marketing strategies
for our developing product lines, these funds will enhance our overall capabilities. This transaction also supplies us with
the capital to meet our financial commitments and commence our work under the exclusive manufacturing and distribution agreement
we entered into earlier this week with CystoMedix, Inc. for its percutaneous tibial nerve stimulation technology to treat
overactive bladders."
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