Foundation Venture Capital Group Portfolio Companies to be Highlighted at Bio International in June

May 29, 2015, 11:25 ET from Foundation Venture Capital Group

NEW BRUNSWICK, N.J., May 29, 2015 /PRNewswire-USNewswire/ -- Actinobac Biomed, NovoPedics, Inc. and MentiNova, Inc., three biotech start-up companies originally funded with investments from Foundation Venture Capital Group (FVCG), have been selected to present their research at Bio International 2015 as part of the Start-Up Stadium and Company Presentation forums offered at the Conference, announced FVCG President James M. Golubieski.

The annual convention, the largest global event for the biotechnology industry, will be held in Philadelphia in June.

"We are absolutely delighted that those who are planning programs at Bio International have recognized the innovative research being conducted at these three companies and the inherent value of their work to potentially affect millions and millions of people throughout the world," said George F. Heinrich, M.D., vice chair and CEO at FVCG. "This will give these company founders an efficient forum to speak with others who have or may have interest in advancing these particular areas of therapy."

  • Actinobac Biomed is advancing its new therapeutic agent, Leukothera®, as a treatment for white blood cell related illnesses such as hematological malignancies (leukemia, myeloma and lymphoma), autoimmune/inflammatory diseases, latent infections, psoriasis and dry eye.

    Leukothera®, a naturally produced protein, targets and depletes white blood cells activated by the presence of disease. In laboratory experiments, malignant white blood cells and primary cells from autoimmune disease patients have been shown to be much more sensitive to Leukothera than their normal counterparts. Animal studies using mouse models for human leukemia and lymphoma have shown Leukothera® to possess significant anti-cancer activity.
     
  • MentiNova, Inc. is repurposing a medication that could alleviate L-Dopa Induced Dyskinesia (LID) in patients with Parkinson's disease. While L-Dopa is effective in ameliorating disease symptoms, particularly in its early stages, the vast majority of patients taking it chronically eventually develop LID, abnormal involuntary movements that can be disabling.

    Based on proof-of-concept pre-clinical studies indicating robust efficacy and favorable safety profile, the company is now advancing to conduct a clinical trial to confirm the efficacy of this new treatment.

  • NovoPedics, Inc., which has two US patents, is developing an implantable medical device that restores mobility to patients suffering from severe meniscal knee injuries. 

    Its first product, Meniscofix™, is a biodegradable polymer, fiber-reinforced scaffold for total meniscal replacement. It provides an innovative way to replace damaged meniscal tissue with a patented fiber-reinforced design similar to the native meniscus and can be attached to both soft tissue and bone, allowing it to be used in total meniscus replacement surgery.  In addition to functional mobility Meniscofix™ may prevent the long-term development of arthritis that so often occurs as a result of meniscus knee surgery.

    Pre-clinical studies have shown strong results through one year post-implantation in large animal models such as sheep.  NovoPedics is finalizing these studies and performing additional in vivo proof of concept studies. An article about its sheep studies will be published in the American Journal of Sports Medicine shortly.  In addition, the company has already developed a second generation scaffold device, which has proven to provide better support and repair capabilities than the first generation device.

For more information, contact James M. Golubieski, president of FVCG, at jgolubieski@njhf.org or (908) 731-6601 or visit him at BIO International in the New Jersey Pavilion on June 15 – 18.

About New Jersey Health Foundation  New Jersey Health Foundation is a not-for-profit corporation that supports biomedical research and health-related education programs through its Grants Program and has contributed more than $52 million to advance such programs in New Jersey. Its affiliate, Foundation Venture Capital Group, makes private equity investments to participate in establishing and managing biomedical start- up companies in New Jersey headed toward commercialization. 

 

SOURCE Foundation Venture Capital Group



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