I was introduced to Dr. Hernan Bazan, CEO and Co-founder of South Rampart Pharma, by Mike Eckert of Gulf South Angels. His group is participating in South Rampart’s Series A round, and suggested VisionTech take a look at it. South Rampart is developing non-addictive, non-opioid pain killers and has a lead drug candidate set to begin a Phase 2 randomized clinical trial for acute pain. The company is novel in that it pays no full-time salaries, relying on hourly wages instead. Even the Wall Street Journal was intrigued by South Rampart’s no-frills approach to funding its drug development. Read the story here. The market is huge and South Rampart is well positioned. So the VisionTech Screening Committee invited Dr. Bazan to pitch Monday, June 2nd at 12 noon. Here’s my preview:
BP: How did you go from Vascular Surgeon to Entrepreneur?
HB: As a vascular surgeon, I consistently encounter the adverse impacts of inadequate pain medicine options and opioid dependency in my clinical practice. I spent two years during medical school at the NIH as a Howard Hughes fellow and saw a lot of innovation and how it can quickly impact patients. I transitioned into entrepreneurship to address this significant healthcare challenge directly. Using my clinical expertise and research background, I co-founded South Rampart Pharma to develop novel non-opioids, including our lead clinical candidate SRP-001. I secured substantial NIH support and was humbled to receive the 2024 NIH Director’s Helping to End Addiction Long-Term (HEAL) Trailblazer Award.
My involvement in South Rampart Pharma extends leading our strong team alongside our CFO Josh Blacher. In addition, I’ve led the pivotal research, authoring peer-reviewed publications in prominent journals such as the European Journal of Medicinal Chemistry (2020) and Nature Portfolio’s Scientific Reports (2024), and guiding SRP-001’s clinical and business strategy towards addressing critical unmet needs in pain, a market that will grow to more than $80B by 2030 with a CAGR 4.2%.
BP: Do you have a personal motivation for addressing this issue and market need?
HB: My motivation to address this market opportunity is driven by the substantial societal and economic impacts of the opioid crisis and large unmet need in the pain space. Witnessing the profound challenges that opioid dependency presents to healthcare systems and communities reinforced my commitment to develop SRP-001 as an innovative, market-disruptive solution. By advancing SRP-001, we aim to deliver a clinically superior and economically viable alternative to opioids and currently available pain medicines, thereby addressing both critical healthcare needs and significant market demand.
BP: Let’s touch on the pain points of addiction and also gastrointestinal issues caused by other pain relief medicines.
HB: Existing pain medications present significant limitations. Opioids carry substantial risks of abuse and addiction, imposing considerable healthcare and economic burdens. NSAIDs, such as ibuprofen (Advil®), frequently lead to gastrointestinal bleeding and kidney injury, while acetaminophen (Tylenol®) can cause liver toxicity with prolonged or excessive use. SRP-001, operating centrally in the brain with rapid pharmacokinetic uptake, differentiates itself clearly from peripheral-acting drugs like Vertex Pharmaceuticals’ recently approved sodium channel inhibitor. By effectively addressing these issues without the risks of addiction, gastrointestinal complications, kidney or liver toxicity, SRP-001 emerges as a compelling therapeutic candidate in the pain market.
BP: Do you have the FDA’s Fast Track designation?
HB: Yes, SRP-001 received the FDA’s Fast Track designation for acute pain, granted based on our successful Phase 1 clinical trial results and its distinct mechanism of action within the central nervous system. This designation highlights the FDA’s recognition of the significant unmet medical need in pain management and underscores SRP-001’s substantial therapeutic potential.
BP: How is your drug’s formulation different from opioids and over-the-counter pain medications?
HB: SRP-001 differs significantly from opioids and traditional over-the-counter (OTC) pain medications through its distinct molecular mechanisms. Unlike opioids, which bind opioid receptors and carry a significant risk of addiction and respiratory depression, SRP-001 modulates pain via both central and peripheral pathways without engaging opioid pathways. Additionally, common OTC analgesics such as NSAIDs and acetaminophen often cause gastrointestinal irritation, liver toxicity, and other adverse effects. In contrast, SRP-001 has demonstrated analgesic efficacy without these gastrointestinal or hepatic risks, attributed to its innovative mechanism targeting the AM404 production in the pain sensing area of the midbrain, the periaqueductal grey region, and ultimately the TRPA1 receptor, which mediates nociceptive (pain) signaling, thereby offering an effective and safer therapeutic profile
BP: What are your competitive advantages?
HB: These are our key competitive advantages:
- Proven Leadership: A clinical and management team with deep and proven expertise in efficiently navigating clinical development and successful commercialization of novel therapies.
- Distinct Mechanism of Action: SRP-001 has a differentiated, non-opioid, non-NSAID therapeutic mechanism that addresses substantial unmet medical needs without the typical risks associated with existing pain treatments.
- Strong Intellectual Property: Global intellectual property protection, featuring strong composition-of-matter patents secured in all major markets including the U.S., EU, Asia-Pacific, and additional key international regions, extending exclusivity through 2038. IP protection through to 2044 is under review.
- Accelerated Regulatory Pathway: U.S. FDA Fast Track designation, providing an accelerated regulatory pathway that enhances speed-to-market potential.
BP: Do you have competitors developing similar solutions?
HB: Several companies are actively developing non-opioid pain therapeutics, creating a robust competitive environment that continues to attract substantial pharmaceutical and strategic investor interest. Vertex Pharmaceuticals’ approval of its peripheral sodium channel inhibitor notably drove significant market value appreciation, including an immediate market cap increase of approximately $6.5 billion the day after approval, and a subsequent $14.4 billion increase within a week. This strong market response underscores investor confidence in the substantial commercial potential and strategic value of innovative non-opioid pain therapies.
For SRP-001, Vertex’s market performance clearly validates the attractive business opportunity for differentiated pain therapeutics and strongly indicates that a drug candidate like SRP-001—distinguished by its unique central mechanism, superior safety and efficacy profiles, and robust intellectual property—holds substantial commercial promise and strategic appeal within the expansive pain management market.
BP: Where are you in your clinical trials?
HB: We have successfully completed Phase 1 clinical trials, demonstrating SRP-001’s strong safety, tolerability, and robust pharmacokinetic profile. The detailed Phase 2 trial protocol is finalized, clinical trial material manufacturing is nearing completion, and we anticipate initiating the Phase 2 randomized clinical trial for acute pain by the end of the second quarter 2025, marking a critical milestone in our path toward commercialization.
BP: What is your path to commercialization?
HB: Our commercialization strategy is structured to maximize investor value and accelerate market entry. Following the completion of our Phase 2 randomized clinical trial, we are actively engaging with the market in collaboration with Outcome Capital, a leading investment banking firm based in Boston, to secure strategic pharmaceutical partnerships or licensing agreements. These alliances will leverage established commercial capabilities and extensive market reach. With a strategic partner, we will then advance SRP-001 through pivotal Phase 3 clinical trials toward FDA approval, out-license certain pipelines for SRP-001—acute and chronic pain, neuropathic pain, intravenous formulation acute post-operative pain—or consider M&A. This approach ensures efficient capital utilization, rapid progression toward key milestones, and strong market penetration upon commercialization.
BP: What IP protection do you have?
HB: Our intellectual property estate features extensive and robust global protection for SRP-001. We hold issued composition-of-matter patents in key commercial regions, including the U.S., Canada, European Union, Japan, China, India, Australia, South Korea, Brazil, Mexico, and Russia. Our core composition-of-matter patent extends protection through at least 2038, with an additional pending patent application covering our novel nanoparticle formulation that, upon issuance, will further extend exclusivity through 2044. This comprehensive IP strategy ensures market exclusivity and maximizes commercial value for SRP-001 globally.
BP: What round is this? What is your planned use of funds?
HB: This is our Series A round seeking $8M to fund the Phase 2 randomized clinical trial for acute pain, including manufacturing, regulatory submissions, clinical operations, and preparation for continued commercialization of SRP-001. The round is being led by Ochsner Ventures. Thus far we have raised more than $3.05M. Proceeds from this funding will primarily support our Phase 2 randomized clinical trial for acute pain and enables us to accelerate SRP-001’s progression toward commercialization, addressing the critical unmet need for safer, non-addictive pain treatments.
BP: Why should VisionTech investors invest in South Rampart?
HB: First, there is a significant market opportunity SRP-001 uniquely addresses the large, growing, and underserved market need for safe, non-opioid pain relief, a market valued at over $80B globally. Second, SRP-001 benefits from FDA Fast Track designation, accelerating regulatory pathways, and comprehensive global IP protection, ensuring robust market exclusivity and strategic advantage. Finally, the company’s proven leadership team possesses deep expertise in clinical development, commercialization, and strategic partnering, significantly reducing execution risk and enhancing potential returns.
VisionTech’s Virtual Pitch Event featuring South Rampart Pharma CEO Hernan Bazan, MD, on Monday, June 2nd begins promptly at 12 noon ET. We will have a full hour for Dr. Bazan’s pitch and questions from participants. VisionTech virtual pitch events are open to our member-investors. Guests interested in joining our group are welcome to attend our June 2nd virtual pitch with advance approval. Please register here.
