U-M spinout Phrixus Pharmaceuticals wins $800K NIH grant, looks to begin clinical trials

Wednesday, January 26, 2011 | Source: Concentrate

Phrixus Pharmaceuticals is ready to begin the second phase of its new heart failure drug.

The University of Michigan spin-out expects to do this at the wet laboratory space in the Venture Accelerator at the university's North Campus Research Complex, i.e. the old Pfizer campus. Phrixus Pharmaceuticals, which has already won an $800,000 National Institute of Health grant, is in the midst of fundraising so it can begin the trials.

The 5-year-old company is developing a compound that acts as a biological sealant, which helps prevent heart stoppage and improves cardiac function. That compound works best with heart failure such as that associated with muscular dystrophy, as well as acute and chronic conditions.

"It seals damage to muscle cell membranes," says Bruce Markham, vice president of research and chief scientific officer for Phrixus Pharmaceuticals.

Phrixus Pharmaceuticals is hammering out details of its lease for space at the Venture Accelerator. It currently has three employees and two consultants in office space in Kerry Town. It expects to add 8-10 more jobs when it begins work on Phase II of its clinical trials. It's also speaking with big pharma firms about acquisition or partnerships.

Source: Bruce Markham, vice president of research and chief scientific officer for Phrixus Pharmaceuticals
Writer: Jon Zemke

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