Tucson, Arizona-based clinical stage biotechnology company developing a first-in-class
therapeutic that uses oxygen to amplify treatment of life-threatening diseases.
VisionTech Angels, among the Midwest’s most active angel investing networks, has invested $196,500 in NuvOx Therapeutics Inc. (NuvOx), with 27 individual members participating in a bridge round following a $10.4 million Series A. NuvOx has also succeeded in attracting $14 million in non-dilutive funding from the National Institutes of Health, Department of Defense and other government funders. NuvOx is VisionTech Angels’ 65th portfolio company.
Headquartered in Tucson, Arizona, NuvOx is a clinical stage biotechnology company developing a first-in-class oxygen therapeutic to treat life-threatening diseases where hypoxia, a condition in which there is a decrease in the oxygen supply to a tissue, plays a role. The company’s lead drug candidate, NanO2TM , represents a disruptive platform technology addressing multiple high unmet needs, and demonstrates great progress in improving the flow of oxygen from lungs to blood and from blood to tissue, which can amplify the effectiveness of treatment. Over 30 animal studies have shown therapeutic effect in seven different indications. Positive clinical efficacy is demonstrated in two completed Phase Ib/IIa studies: glioblastoma multiforme (brain cancer) as a radiosensitizer and stroke as a neuroprotectant. NuvOx has commenced its Phase IIb glioblastoma multiforme trial in United States and is preparing for two additional clinical trials in late 2023.
VisionTech Angels’ Executive Director Ben Pidgeon says the groups investors are impressed by NuvOx’s potential as well as the track record of company co-founder and CEO, Evan Unger, MD. “Investing in biotech companies is a long game for investors because of time needed for development and clearing regulatory hurdles. NuvOx is well-positioned. They are addressing a massive market with an unmet need with a drug that has been substantially de-risked, has strong patent protection and a clear pathway to commercialization.”
Adds Pidgeon, “We also have great confidence in Dr. Unger, his leadership team and advisory board. He has an impressive background in the startup world and in medicine. He’s founded four biotech companies, successfully exiting two. His first company, ImaRx Pharmaceutical, developed three FDA-approved drugs and was acquired by DuPont, yielding a 20X return on investment. His second company, ImaRx Therapeutics, went public, and NuvOx, shows great promise. Dr. Unger is an inventor on more than 120 U.S. patents, a board-certified radiologist and Professor Emeritus of Medical Imaging at the University of Arizona.”
Founded in 2009, VisionTech is a privately held company that links investors to high-potential, early-growth companies. Based in Indianapolis, VisionTech’s angel investing network includes more than 130 active members across Indiana and Ohio. As of November 2022, 175 VisionTech member investors have deployed more than $24.8 million in capital, investing in 65 portfolio companies from across the United States. Membership is open to accredited investors. Those interested in joining are encouraged to contact VisionTech.
About NuvOx Pharma, Inc.
NuvOx is a privately held Phase IIb company developing a novel oxygen therapeutic where hypoxia plays a role. Hypoxia, or low oxygen, is responsible for resistance to cancer treatment, brain damage in stroke, and the death of COVID-19 patients with acute respiratory distress syndrome (ARDS). The Company’s lead drug, NanO2TM, represents a disruptive platform technology addressing multiple highly unmet needs, with positive clinical efficacy demonstrated in two completed Phase Ib/IIa studies: glioblastoma multiforme as a radiosensitizer and stroke as a neuroprotectant. It was shown to be the most effective oxygen therapeutic among 74 clinical-stage compounds. It has safety and efficacy data in more than seven indications in various clinical stages, including Orphan Drug Designation for both glioblastoma multiforme and sickle cell disease. The product was derived from Dr. Evan Unger’s pioneering work in microbubbles, which was commercialized as the number one selling contract agent. As such, it has safety data in more than 2,000 subjects. The product is designed to be synergistic, rather than competitive with, standard of care. For additional information, visit website.