Palo Alto, Calif. and Newton, Mass., April 05, 2006 — PRNewswire
Life Science Angels, Inc., a Bay Area healthcare angel investment group focused exclusively on early stage biotechnology and medical device companies, announced today an investment in NeuroHealing Pharmaceuticals, Inc.
NeuroHealing Pharmaceuticals is a clinical stage company developing therapies to improve the neuro-rehabilitation process and functional outcome for patients who have suffered debilitating injuries to the central nervous system (CNS). Currently, there are no approved pharmaceutical treatments to aid in the rehabilitation of the millions of Americans who live with chronic disabilities resulting from brain injuries. NeuroHealing is developing reprofiled drug candidates, each with early evidence of clinical efficacy and extensive human safety data.
The company’s lead candidate NH001 is designed to promote consciousness recovery in people who are or have been in a coma. It is currently being tested in an open label clinical study at centers outside the US with encouraging results. NeuroHealing has recently received FDA approval to begin a Phase II study in the US. The company’s second candidate, NH004, is being developed for treatment of sialorrhea (drooling or un-controlled salivation), a debilitating social problem associated with Parkinson’s Disease, cerebral palsy, ALS and other neurological disorders. NeuroHealing has a pending Phase II submission for a double-blind placebo controlled study of NH004 in Parkinson’s Disease patients and this financing will enable initiation of the trial upon regulatory approval. NeuroHealing’s third product candidate, NH02D, is designed to improve the rehabilitation of patients who remain with chronic motor and cognitive disabilities following a stroke.
“We are especially pleased to have financial backing and the solid support of LSA’s membership,” said Neal M. Farber, Ph.D., CEO of NeuroHealing. “LSA represents an extremely knowledgeable and successful group of life science entrepreneurs who share our excitement and commitment to NeuroHealing’s novel therapeutic programs for debilitating CNS conditions and supportive care.” Life Science Angels will invest up to $500,000 in NeuroHealing.
“Because of their focus on major unserved markets, drug development approach allowing for rapid entry into clinical trials and expertise of the management team, we believe NeuroHealing is an exciting investment opportunity,” said Karen Talmadge, PhD, Co-Chair of the Life Science Angels Biotech Investment Committee and co-founder and CSO of Kyphon Inc, a $1.6 billion public company. As part of the investment, Dr. Talmadge will advise and be an observer at NeuroHealing Board meetings.
NeuroHealing’s leadership team includes: Neal M Farber, PhD, CEO, Elkan Gamzu PhD, Chairman of the Board and Acting Head of Clinical Trials and Daniel Katzman, Founder and President. Dr Farber was a Helen Hay Whitney Research Fellow in molecular biology at Harvard University and received his PhD at Columbia. He has over 20 years in the biopharmaceutical industry including senior corporate positions at Biogen and Cubist Pharmaceuticals. Dr Gamzu has worked in the industry since 1971 at companies including Hoffman La Roche and Warner-Lambert where he directed the development of Cognex, the first drug approved for Alzheimer’s Disease. Company founder Daniel Katzman has extensive experience in the industry including leading a multi-center Phase III study and obtaining FDA approval for a drug-device combination product that included an NDA and a 510(k). He has been awarded four US patients and obtained his Master’s degree in Biochemistry from Universidad National de la Plata, Argentina.
Life Science Angels, Inc. (www.lifescienceangels.com/) was founded in 2005 by senior life science executives and experienced investors. It is an angel capital fund which rigorously selects and screens early stage life science companies. LSA has over 80 members and has funded six companies in the biotech and medical device industries in its first year.
NeuroHealing Pharmaceuticals, Inc. (www.NeuroHealing.com/) is a clinical stage company developing therapies to improve the neuro-rehabilitation process and functional outcome for patients who have suffered debilitating injuries to the central nervous system. Clinical stage programs include: NH001, a dopaminergic agent to help post traumatic brain injury patients to emerge from a coma, vegetative or minimally consciousness state; NH004, an anticholinergic agent in a convenient intra-orally dissolving film to help treat motor neuron patients who suffer from sialorrhea (drooling); and NH02D, a novel mechanism compound to accelerate the rehabilitation outcomes of stroke patients who remain with chronic motor and cognitive disabilities.