Salt Lake City, UT – January 6, 2010 - Salt Lake Life Science Angels (SLLSA) announced today that it has led an investment in MediProPharma, Inc. MediProPharma is a Salt Lake City-based pharmaceutical product development company. The Company identifies and develops multifunctional, mechanism-based CNS drugs. The Company’s strategy involves development of ‘selectively not selective’ CNS drugs which concurrently act at several biological targets. MediProPharma is currently advancing three drug development programs to commercial viability. The therapeutic indications include Down syndrome, Alzheimer’s disease, brain injury, epilepsy, depression, and pain. The lead compound, a clinically validated cognitive enhancer is currently in pre-clinical development for the treatment of neurodegenerative diseases and disorders. SLLSA was joined in the financing round by investors from the Sierra Angels, Olympus Angels, Utah Angels, Kickstart Seed Fund, and individual investors.
About SLLSA:
SLLSA is a Salt Lake City-based angel investment group that was founded in 2006 to facilitate investment in seed-stage life science companies in Utah. SLLSA is made up of accredited executives, entrepreneurs, scientists, and clinicians seeking investment opportunities in early-stage companies.
Sponsors of SLLSA include: the Parr Brown Gee & Loveless Business Transactions Group, the Stoel Rives Technology & Intellectual Property Practice Group, CFO Solutions, and the Utah Science Technology and Research Initiative (USTAR).
For additional information regarding SLLSA, please visit www.SLLSA.com.
About MediProPharma:
MediProPharma is a virtual pharmaceutical company. MediProPharma implements the strategy of non-classical repositioning via identification of drug candidates with established clinical safety and efficacy, but with unknown target(s)/mechanism(s) of action. The Company elucidates the biological targets and mechanisms of action of clinically validated drug candidates, prepares novel analogs with improved pharmacological profile, explores novel therapeutic utility, and develops drug candidates to commercial viability.
