ONAMI Gap Fund Company Wins Angel Oregon

March 13 2009

ONAMI Gap fund company DesignMedix has won the 2009 Oregon Entrepreneur’s Network (OEN) Angel Oregon competition, and will receive an additional $150,000 investment as a result.

Said DesignMedix COO Dr. Sandy Shotwell, “We hope this helps demonstrate the value of the ONAMI Gap Grant program”. DesignMedix, together with Dr. David Peyton of Portland State University, is the recipient of a $246,000 ONAMI gap grant intended to advance the company’s efforts to secure private capital funding.

DesignMedix, Inc. is a drug development company focused on overcoming drug resistance, one of the major challenges impacting human health and drug development today. The DesignMedix approach offers both a mechanism to overcome resistance, and the ability to develop an ongoing series of novel drugs. DesignMedix has designed and synthesized a library of novel candidate drugs called reverse chloroquines (or RCQ’s) to combat several important infectious diseases. In the company’s most advanced drug development program, lead compounds have been shown to overcome malaria drug resistance in human red blood cells in vitro, and to provide a cure in animal models.

DesignMedix has partnered with Dr. Peyton to develop nanotechnology-based drug delivery methods for malaria prevention and treatment. In the ONAMI gap project, the DesignMedix / PSU team will select the nanocarriers most appropriate for preventative delivery of malaria drugs, and develop a scale-up process for the cost-effective synthesis of drug candidates in sufficient quantities for safety and oral availability testing.

DesignMedix also received invaluable assistance in its early days from one of Oregon’s other Signature Research Centers, OTRADI (Oregon Translational Research and Drug Development Institute) for high-throughput screening of candidate compounds.

Company Website: www.designmedix.com

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