ParinGenix Inc.

ParinGenix Inc. is developing a modified form of heparin to ameliorate cardiac ischemia-reperfusion injury following myocardial infarction. The company's lead drug, called PGX-100, significantly reduces damage to the heart in animal models of myocardial infarction. PGX-100 is also in preclinical development for other critical-care indications.

Broad inflammation is a major contributor to myocardial damage following reperfusion. ParinGenix researchers found that high doses of the widely used anticoagulant, heparin, decrease this inflammation. At such high doses, however, the anticoagulant properties of heparin preclude its use as an anti-inflammatory drug.

ParinGenix researchers developed a safer, nearly nonanticoagulant heparin derivative that retains its anti-inflammatory activity. This heparin derivative, 2-O, 3-O desulfated heparin, is the drug substance in the PGX-100 intravenous dosage formulation.

ParinGenix secured $4 million in Series A funding in August 2002. RCT, Academy Venture Fund of Charlotte, N.C., and A.P. Kennedy Family Securities of Madisonville, La., are the lead investors. The company holds several issued U.S. and foreign patents that protect the composition, use and manufacture of PGX-100.

In February 2005, ParinGenix received approval of its Investigational New Drug (IND) application for PGX-100 from the U.S. Food and Drug Administration Division of Cardio-Renal Drug Products.

ParinGenix secured a $20.4 million Series B financing on Aug. 17, 2006, which allowed the company to expand its development programs. The primary use of the proceeds from the financing is to undertake and complete a Phase IIb study of PGX-100 in exacerbations of COPD. Three new investors, CHL Medical Partners (Stamford, Conn.), Domain Associates LLC (Princeton, N.J.) and Aurora Funds (Durham, N.C.), joined RCT in the financing.

Inventor/Founder

Thomas Kennedy, M.D., Carolinas Medical Center

RCT Contact

Christopher P Martin, VP and CFO, (520) 748-4400

Related Web Sites

Academy Venture Fund
Aurora Funds
Carolinas Medical Center
CHL Medical Partners
Domain Associates LLC