News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

AssureRx Closes Round of Funding to Commercialize Pharmacogenetic Test



3/5/2008 10:08:21 AM

CINCINNATI, March 5 /PRNewswire/ -- AssureRx, a personalized medicine company, today announced that it has closed a round of funding.

The company was founded in 2006 to license and commercialize pharmacogenetic technology from Cincinnati Children's Hospital Medical Center and Mayo Clinic. The technology utilized in the AssureRx non-invasive, pharmacogenetic test measures, analyzes and interprets the genes of patients with common neuro-psychiatric disorders to predict which drugs are best choices for each specific patient. The test helps to take much of the guesswork out of prescribing medications.

"Personalized medicine is the future of health care," said Mark Byrne, chief executive officer of AssureRx. "Our test uses cutting-edge technology to measure, analyze and inform, helping doctors provide customized care based on science. Our comprehensive genetic test, sophisticated interpretive algorithms, quick turnaround and physician-friendly reports provide physicians a unique guide that will save money, save time and save lives."

Pharmacogenetics helps physicians determine how an individual patient will respond to an individual drug, and at what dose. AssureRx analyzes not just one gene, but several genes to predict how patients will respond to medicines. The patent-pending technology takes many genetic variables into consideration and translates the data into a report for doctors within 48 hours of receiving a sample from a patient.

"Until now, doctors have had to determine the safety and effectiveness of psychotropic drug selection and dosing for an individual patient through trial and error," said David Mrazek, M.D., Chair, Mayo Clinic Department of Psychiatry and Psychology. "This technology allows for a personalized patient report based on known science and the specific genetic makeup of the individual patient. The report outlines metabolic factors and drug response information."

Investors include Queen City Angels (lead), CincyTech USA, the Health Foundation of Greater Cincinnati, Blue Chip Venture Company, Cincinnati Children's Tomorrow Fund and individual investors.

"We liked what we saw in terms of the science, the research partners, the business plan, the executive team and the market potential," said John McIlwraith of Blue Chip Venture Company. "Personalized medicine is clearly an emerging trend in patient care. We're happy to be in at the forefront of this exciting opportunity with AssureRx, and we're confident that the company will become a leader in the field."

About AssureRx

Cincinnati-based AssureRx, LLC, is a personalized medicine company dedicated to helping physicians determine the right drug at the right dose for individual patients suffering from a range of medical conditions. The company was founded in June 2006 to license and commercialize industry-leading personalized medicine technology of Cincinnati Children's Hospital Medical Center and Mayo Clinic. The proprietary technology is based on pharmacogenetics - the study of the genetic factors that influence an individual's response to drug treatments - as well as evidence-based medicine and clinical pharmacology. The result is a trusted guide that helps doctors select the right drug at the right dose right now. AssureRx can be found on the Web at www.assurerx.biz.

CONTACT: Laura Phillips, +1-513-721-5353, lphillips@powersagency.com, for
AssureRx

Web site: http://www.assurerx.biz/


Read at BioSpace.com


comments powered by Disqus
AssureRx
 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES