ChanRx, a Cleveland, Ohio-based company that is developing a pharmaceutical compound to treat atrial fibrillation, has raised $250,000 from JumpStart Ventures.
The company, which is a spin-out from ChanTest, will use the funding and the entrepreneurial development assistance provided by JumpStart Venture Partner, Kevin Mendelsohn, to complete development of an intravenous formulation of its anti-arrhythmia drug, Vanoxerine, which has already demonstrated its ability to restore normal heart rhythm in a human clinical study.
Atrial fibrillation, a heart condition that affects two million Americans, with 200,000 new cases being diagnosed each year, is characterized by an irregular beating of the heart caused by misfiring of electrical impulses. The abnormal contracting causes decreased cardiac function, raising the risk of stroke and heart failure.
The intravenous formulation will enable quicker absorption and increased speed to efficacy when compared to other deliveries of the drug.