TheraVasc is developing an oral, sustained-release formulation of sodium nitrite to improve blood flow and stimulate new blood-vessel growth in patients with peripheral artery disease, particularly diabetics. The company has an ongoing Phase 1 trial (started in July) that has enrolled three patients and hopes to enroll about 10 more before wrapping in November or December. It plans a Phase 2a trial at the Cleveland Clinic and University Hospitals to test efficacy in diabetics. Funding from the current raise will support the Phase 1 completion and the planned Phase 2a. The team is led by CEO Tony Giordano, who plans to split time between Cleveland and Louisiana as the company progresses. TheraVasc received a $100,000 grant from GLIDE that helped bring activity to Northeast Ohio. Management says a successful Phase 2a could position the company for acquisition or a larger venture round of $10–$20 million.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2010