Source: Mid Atlantic Bio Angels
NEW YORK, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Mid Atlantic Bio Angels (MABA) announces today that it has made its ninth investment in a company called Elysium Therapeutics, Inc., which is developing a new class of opioid pain relievers that protect individuals from oral misuse, abuse and fatal overdose.
“Opioid abuse remains one of the most difficult issues in contemporary healthcare, which is being addressed on multiple levels, medical, ethical and regulatory. Elysium Therapeutics has demonstrated significant progress in the development of its O2P (oral overdose protection) chemistry, which is designed to automatically prevent opioid levels in the bloodstream from exceeding certain parameters, thus minimizing addiction and side effects, making it an attractive approach to effective pain control,” said Yaniv Sneor, a MABA co-founder and president of Blue Cactus Consulting. “We are further impressed with Elysium’s management team, as they have already demonstrated proof-of-concept following a National Institute on Drug Abuse SBIR grant.”
Elysium Therapeutics is a San Ramon, CA-based corporation whose mission is to disrupt the $10B+ prescription opioid pain medications market by accomplishing what others thought was impossible – to create a new class of opioid pain relievers that protect individuals from oral misuse, abuse, and fatal overdose (that is, from the simultaneous ingestion of multiple pills). Elysium’s O2P (oral overdose protected) opioids are designed to enhance the ability of pain patients and their physicians to employ effective opioid-based pain management, reduce the costly impact of prescription drug abuse on families and our economy; and save lives.
“We are grateful for the support of Mid Atlantic Bio Angels, together with individual angel investors, that recognize the important work we have undertaken, as well as the enormous commercial potential and societal benefit that our technology may bring,” said Greg Sturmer, president and CEO of Elysium Therapeutics. “Further, the MABA team provides the company with access to a number of industry professionals who can provide their insight to the development process.”
About Mid Atlantic Bio Angels
Mid Atlantic Bio Angels (http://bioangels.net) is a group of active angel investors, which meets in New York City monthly (except July and August) solely to hear from pre-screened early-stage life science companies. MABA members consist of individuals from Delaware to Massachusetts with significant expertise and experience in the biotechnology, pharmaceutical and healthcare industries, including former and current corporate executives, doctors and Ph.D. scientists with product development backgrounds, successful medical entrepreneurs and analyst/investors focused on life sciences. MABA's goal is to create an environment where the depth of investors' knowledge coupled with the pre-screening of presenting companies enhances the potential for meaningful investment.
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