(Juventas Therapeutics, Inc. is formerly known as AcelleRX Therapeutics, Inc.)
AcelleRX receives $6.9 million investment
By Chuck Soder, Crains Cleveland October 9, 2008
AcelleRX Therapeutics Inc., a Cleveland Clinic spinoff company, has received a $6.9 million investment that will finance the first clinical trial of its cardiovascular stem cell therapy.
Triathlon Medical Ventures of Cincinnati led the round. Other investors include Early Stage Partners of Cleveland, Fletcher Spaght Ventures of Boston, Reservoir Venture Partners of Columbus, Blue Chip Venture Co. of Cincinnati, JumpStart Inc. of Cleveland and North Coast Angel Fund of Mayfield Heights. The company’s lead product, Stromal Derived Factor-1, is given to patients following heart attack or heart failure. It works to repair damaged tissue by promoting cell survival, recruiting stem cells and improving blood flow to damaged tissue.
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