Gainesville and Boca Raton, FL -- July 30, 2014 - The Institute for Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with RxMP Therapeutics, LLC, an emerging pharmaceutical company based in Miami. The Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.
RxMP Therapeutics’ innovative hemostatic agent, RMP-HPE, is based on technology licensed from the University of Miami. RMP-HPE quickly stops and prevents excessive bleeding in pre-clinical testing, which positions it as a potential improvement over existing therapies. Excessive bleeding is life-threatening and may occur during surgical procedures, trauma care, obstetrics procedures, and even dentistry.
Currently, the primary treatment for excessive bleeding is blood transfusions. In 2011, 13.8 million units of blood were transfused in the United States, with 2.38 million people transfused for all causes of bleeding. "Blood transfusions are the standard treatment for bleeding, but have serious risks,” said Jamie Grooms, Institute Chief Executive Officer. “By reducing or even eliminating blood transfusions in cases of excessive bleeding, RMP-HPE should limit patients’ exposure to these serious risks, as well as reduce costs. The Institute is pleased to support RxMP’s efforts in this important area."
“Beyond transfusions, there are few available treatments for excessive bleeding, all of which have significant shortcomings,” said Dr. Yeon Ahn, Scientific Founder of RxMP Therapeutics and Professor of Medicine, Division of Hematology/Oncology, University of Miami. “Also, transfusions replace lost blood but do little to stop the bleeding; whereas, RMP-HPE arrests bleeding. There remains a significant unmet clinical need for a safe, effective and cost-effective treatment for excessive bleeding this serious condition. RxMP Therapeutics’ goal is to meet this need with RMP-HPE, its lead product.”
About the Institute
Formed by the Florida Legislature in 2007, the Institute for Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida’s state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. Over 100 new company opportunities have been identified across the state, and the Institute deploys both Company Building and Company Funding programs to support their growth and success. Thirty-two companies have been funded through Institute seed capital programs.
About RxMP Therapeutics, LLC
RxMP Therapeutics, LLC (RxMP) is an emerging specialty pharmaceutical company focused on developing proprietary drugs for the management of excessive bleeding. RxMP aims to develop and commercialize RMP-HPE, (red cell-derived microparticles produced by high pressure extrusion), as a new hemostatic agent for the treatment or prevention of excessive bleeding.