Flow Forward Closes $1.3 Million of Additional Series A Financing

Human Health published Tue, 2015-05-26 10:53

 OLATHE, Kan. - May 18, 2015 - Flow Forward Medical Inc. (Flow Forward), an early-stage company focused on improving outcomes for hemodialysis patients through the rapid creation of high-quality vascular access sites, today announced that it has closed a $1.3 million round of additional Series A financing, led by existing investor, the Kansas Bioscience Authority (KBA). Flow Forward previously raised $4.4 million in Series A funding, bringing the total in equity funding raised to date to approximately $5.7 million. Series A proceeds will be used to continue the development of Flow Forward's Arteriovenous Fistula Eligibility (AFE) System™, a small, minimally invasive blood pump system designed for temporary use to rapidly dilate peripheral veins through flow-mediated vascular remodeling prior to arteriovenous fistula (AVF) surgery.

 

Flow Forward also announced today that it will receive a $225,000 Phase I Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH). The SBIR funding will be used to test peripheral vein dilation with the AFE System prior to AVF creation in a nonclinical model.

 

"Many of the two million patients on hemodialysis worldwide who undergo conventional surgical AVF creation each year experience vascular access site failure, which is associated with increased morbidity. With its AFE System, Flow Forward is addressing issues known to contribute to AVF failure," said Tom Krol, Managing Director at KBA and a member of Flow Forward's board of directors. "In early studies conducted in a challenging nonclinical model, the company has shown much more rapid vein dilation, large increases in blood flow and a significant reduction in vein wall scarring, when compared with conventional AVF creation. We believe that the AFE System has the potential to drive broad increases in AVF eligibility as well as large reductions in AVF failure."

 

Flow Forward also announced today the appointment of Kurt Dasse, PhD, to its board of directors. Dasse has spent nearly three decades conducting cardiovascular research and developing products to treat heart, lung and kidney diseases. He is currently President and CEO of GeNO LLC, a biopharmaceutical company developing next-generation delivery systems for inhaled nitric oxide, a pharmacologic blood vessel dilator. He was previously President and CEO of Levitronix LLC, a developer and manufacturer of rotary blood pump systems for cardiopulmonary support that was acquired by Thoratec Corporation in 2011.

 

"I am pleased to have additional financial resources from KBA and the NIH's SBIR program to accelerate the development of the AFE System. I also welcome Kurt to our Board. His decades of industry experience and deep domain experience in cardiovascular biology and physiology will be invaluable as we work to realize our goal of providing physicians more and better options when creating vascular access sites for hemodialysis patients," said F. Nicholas Franano, MD, President and CEO of Flow Forward.

 

 

 

 

 

 

 

 

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Prommune Selects Kansas location

Animal Health published Wed, 2015-05-13 10:25

The KC Animal Health Corridor announced that Prommune, an animal vaccine research and development company, will locate its global commercial operations within the Kansas City region.

Prommune will initially operate from temporary office space at 9393 West 110th St., Overland Park, Kansas, and plans to hire approximately six employees within the next three years. The company selected the Corridor due to its unsurpassed logistics, manufacturing and talent pool.



Read the Corridor's blog post here.

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Traverse Biosciences Executes Agreement with Aratana for Periodontal Disease in Dogs and Cats

Animal Health published Wed, 2015-05-06 09:26

Stony Brook, NY; May 4, 2015: Traverse Biosciences announced today that it has executed a $250,000 cooperative research and development agreement (CRADA) with Kansas-based Aratana Therapeutics Inc. (NASDAQ:PETX) to advance the development of TRB-N0224 for the treatment and control of periodontal disease in companion animals, including dogs and cats. 

The funds provided by Aratana under the CRADA will be used by Traverse Biosciences primarily to conduct a proof-of-concept (POC) efficacy study to evaluate TRB-N0224, a proprietary chemically-modified curcumin, in an accepted animal model of canine periodontal disease. Canine periodontal disease affects approximately 80% of dogs by age three, with the highest incidence in smaller breeds and older animals. Periodontal disease in dogs, of which there are approximately 83 million pets in the U.S. alone, leads to serious oral health complications, and can impair liver, kidney, cardiac and metabolic function. Traverse Biosciences also intends to conduct pilot pharmacokinetic, pre-formulation and preliminary safety studies during the term of the agreement.

Mr. Joseph Scaduto, Founder and CEO of Traverse Biosciences, stated, “The global animal health market is rapidly expanding, and this growth represents a significant business opportunity for companies developing innovative products that address unmet needs in veterinary medicine. We are very fortunate and excited to engage with Aratana Therapeutics to accelerate the commercialization of TRB-N0224 for the treatment and control of periodontal disease in companion animals.”

Dr. Steven St. Peter, Founder, President and CEO of Aratana Therapeutics, commented, “We are pleased to initiate this strategic partnership with Traverse Biosciences given the opportunity that TRB-N0224 represents as a potential therapeutic for periodontal disease in dogs and cats.  Aratana is committed to providing veterinarians with new therapies that are deeply rooted in science, and which are specifically made for pets.  Our pipeline currently consists of more than 18 therapies to treat a variety of diseases affecting companion animals. TRB-N0224 would be the first product to treat an oral health condition.”

 

Read the full announcement here.

 

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