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ChanRx to Use $250K Investment to Reformulate A-fib Drug

Thursday, August 05, 2010

Excerpt of story provided by MedCity News
Written by Mary Vanac

Fledgling drug development company ChanRx has received a $250,000 investment commitment from JumpStart Ventures, the investment arm of Northeast Ohio venture developer JumpStart Inc.

ChanRx was spun off by ChanTest Corp. in Garfield Heights, Ohio, two years ago to develop small-molecule drugs to treat atrial fibrillation, an increasingly common arrhythmia that can cause heart attacks and strokes.

ChanRx will use the JumpStart investment to complete development of an intravenous formulation of Vanoxerine, its anti-arrhythmia drug that in its oral form demonstrated an ability to restore normal heart rhythm in a human clinical study. The study also showed Vanoxerine was safer than other atrial fibrillation drugs on the market or in development...

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