Last month at the OneMedForum in New York City pharmaceutical company Complexa presented its two current projects, both treatments for anti-inflammatory and metabolic disease, which utilize disruptive fatty-acid technology to decrease inflammation often induced by contrast dyes used in some diagnostic testing.
Scientifically, it has been proven that nitro-fatty acids reduce inflammation and promote anti-inflammatory responses. Complexa plans to prove its technology in the Contrast-Induced Acute Kidney Injury field and will also target that market first once it has completed clinical trials and FDA approval. Contrast-Induced Acute Kidney Injury is the inflammation of the kidneys in patients undergoing coronary angiography. The high doses of contrast are eliminated through the kidneys and cause inflammation.
Currently, there are no effective treatments or preventative measures for this condition, and the condition causes significant cost to taxpayers and hospitals. Complexa’s technology will answer this unmet market need. The Contrast Induced Kidney market is a large one, at about $500 million. This is due to the fact that Acute Kidney Injury affects 3-7% of all patients admitted into hospitals and about 25-30% of patients admitted into the Intensive Care Unit. Complexa’s technology has the potential to treat an issue many sick Americans face today.
Complexa’s management includes many industry-leading scientists and experienced pharmaceutical executives. Management includes Joshua Tarnoff, CEO, who was previously general manager of a $2B business unit for Astra Zeneca. The company scientific advisors include a Nobel Laureate, the head of the National Acute Kidney Taskforce, the past president of Am Soc Nephrol, and the department chair of pharmacology and chemical biology at the University of Pittsburgh.
The anti-inflammatory technology is currently in the IND stage. Thus far it has been de-risked as it delivered successfully in the Series A and the IND stages. Complexa is seeking $7-10 million in financing to enter human trials in 2013. Complexa predicts a two-year exit based on similar anti-inflammatory products brought to market via investor financing for various kidney diseases. Some deals of this nature include: Quark Pharmaceuticals phase II drug for kidney disease being licensed to Novartis with only Phase I data for $670MM and Action Pharmaceuticals acute kidney treatment (AP214) being sold to Abbott for $110M in only its Phase IIb stage.
For more information on Complexa, view their profile on the OneMedDatabase at Complexa or visit their website at www.complexarx.com.