Funding Boosts Purdue Startup Related to PVM Scholar’s Research

February 4, 2016

The Elevate Purdue Foundry Fund is giving a boost to a Purdue startup to accelerate commercialization of a drug therapy for pain in multiple sclerosis, which stems from research conducted by Dr. Riyi Shi, a professor in Purdue Veterinary Medicine’s Department of Basic Medical Sciences.  The startup is called Neuro Vigor, and Dr. Shi is the co-founder and chief scientist.  Dr. Shi discovered a drug that can reduce a powerful neuro-toxin in the body, which has significant promise as a novel therapy for neuro-degenerative disease and injury.

The Elevate Purdue Foundry Fund awarded Neuro Vigor a $20,000 "Black Award." The Fund is operated jointly by officials from the Purdue Foundry, an entrepreneurial and startup hub located at Purdue, and Elevate Ventures, a private venture development organization that nurtures and develops emerging and existing high-potential businesses into high-performing, Indiana-based companies. Chris LaMothe, Elevate Ventures CEO, said, "This early stage award is the result of a very competitive process and recognizes Neuro Vigor's progress to date and its potential as a future target for other investors with whom we might partner to help the company deliver its solutions to patients worldwide.”

Like past recipients of the "Black Award," Neuro Vigor was formed to bring Purdue research to the marketplace.  The drug development company is focused on repurposing existing FDA cleared therapies to address the unmet needs of patients afflicted with Neuro Degenerative Diseases and their complications. Neuro Vigor has licensed technology from Purdue University based upon the work of Dr. Shi for the treatment of Multiple Sclerosis, Neuropathic Pain and Parkinson's Disease. Neuro Vigor's first repurposed product will be Hydralazine to address Central Neuropathic Pain, which afflicts over 50 percent of MS patients.

"We value this vote of confidence by Purdue and Elevate Ventures in our technology, our leadership team and our strategy to pursue this significant healthcare opportunity," said Mark Van Fleet, Neuro Vigor's Managing Partner.  Neuro Vigor's technology is licensed through the Purdue Research Foundation Office of Technology Commercialization. Click here to learn more about this or other technologies .

Writer: Kevin Doerr, pvmnews@purdue.edu


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