VasoGenix Raises $400K

Vasogenix Pharmaceuticals, a heart failure treatment developer, will be awarded $400,000 from the Kansas Bioscience Authority. KBA previously awarded VasoGenix $200,000 in 2008.

Press release

VasoGenix Pharmaceuticals Inc. announced today that it will be awarded $400,000 from the Kansas Bioscience Authority (KBA) to support ongoing development of VasoGenix’ CGRP (calcitonin gene-related peptide) agonist analogs for treating heart failure. KBA previously awarded VasoGenix $200,000 in 2008. KBA awards are matches to funds raised by the company through its financial advisor Einhorn and Associates of Milwaukee (414-453-4488). The Company is raising capital for the filing of an Investigational New Drug (IND) application with the U.S. Food and Drug Administration.

The cash award follows news recently announced by VasoGenix that preclinical in vivo screening of a series of synthetic analogs of calcitonin gene-related peptide (‘CGRP’), which naturally occurs in humans, retained the properties of CGRP at equal or greater potency. VasoGenix is in the process of selecting one of these compounds to pursue for the treatment of heart failure, which is the nation’s most expensive disease. Heart failure affects five million Americans annually and is the number-one cause of death in persons over 65.

CGRP is concentrated in the heart, where nerves secrete it to protect the heart and keep heart cells alive. Unfortunately, when there is an MI (myocardial infarction) or CHF (congestive heart failure), an insufficient amount is present to have a meaningful effect. CGRP appears to benefit the heart by (1) increasing local blood flow; (2) protecting heart muscle cells from damage due to lack of oxygen; and, (3) modulating the immune system, which reduces inflammation and protects the heart. These benefits minimize heart muscle damage and subsequent scar tissue formation, while promoting the healing process.

Preclinical in vivo testing of VasoGenix’s CGRP analogs confirms that they retain the therapeutic properties of CGRP that are important for the treatment of heart failure.

“This cash infusion underscores that we have a tremendous success story emerging here in the heartland of America, Kansas City,” said G. Lee Southard, Ph.D., Chairman and CEO of VasoGenix Pharmaceuticals. “Indeed, we are looking forward to filing an IND application with the FDA to begin human clinical trials for heart failure treatment with our selected compound, for which we have filed a composition-of-matter patent.”

VasoGenix Pharmaceuticals is a privately held, emerging biopharmaceutical company focused on developing cardiovascular drugs. The Company is focused on positioning its compound related to ‘CGRP’ (calcitonin gene-related peptide) as a front-line treatment for heart failure.

Statements contained in this press release, which are not historical facts, are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of words such as, “expects,” “plans,” “estimates,” “projects,” “promises,” “intends,” “believes,” and similar expressions that do not relate to historical matters. Such forward-looking statements are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated, due to a number of factors, which include, but are not limited to, to identify strategic partners or, if identified, the inability to enter into an acceptable agreement with such strategic partners and successfully concluding the development and regulatory processes. All forward-looking statements in this press release are made as of today, based upon information known to management as of the date hereof. VasoGenix assumes no obligation to update or revise any of its forward-looking statements even if experience or future changes show that indicated results or events will not be realized.