Tech Transfer eNews Blog

St. Louis U start-up raises $30 million to develop non-addictive painkillers

By Jesse Schwartz
Published: February 5th, 2020

A St. Louis University (SLU) start-up has closed on a $30 million Series A funding round to advance non-addictive treatments for chronic pain.

Launched by SLU professor Daniela Salvemini, BioIntervene is developing alternatives to steroids and opioids as painkillers. The start-up plans to use the funding to accelerate development of its drug portfolio, with the goal of entering Phase 1 clinical trials this year.

“It’s hard to overstate the significance of this investment in BioIntervene,” says Ken Olliff, vice president for research at SLU. “Dr. Salvemini’s work on non-addictive treatments for chronic pain has the potential to dramatically curb the deadly effects of our nation’s ongoing opioid crisis, and this investment will greatly enhance BioIntervene’s ability to pursue this transformative work.”

Salvemini comments, “After dedicating many years to exploring the role of this pain pathway, I am very excited that the program through this funding now has the resources and leadership to advance our lead candidate into the clinic for neuropathic pain. Having the opportunity to translate one’s discoveries from the bench to the bedside is a dream come true. I am hopeful that our efforts will lead to the alleviation of suffering while helping end the opioid crisis.”

Source: St. Louis Business Journal

Posted under: Tech Transfer e-News

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