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RF Therapeutics Inc. |
History |
The Business
RF Therapeutics Inc. is developing chemical dyes for increasing the visibility (contrast) of details in living and dead tissue by assisting the technique of MRI to see features with greater clarity.
These agents are based on complexed metals that show up very well by MRI and stand out clearly from surrounding tissue.
The first such agent is a "necrosis avid" agent which has the remarkable property of sticking to dead tissue.
The uses of such an agent are many; including MCI, reperfusion damage and tumor ablation therapy. Our first clinical target is MCI.
The "Unmet Needs"
Diagnosis of MCI is currently done by measuring the levels of certain enzymes in the bloodstream. This method gives a general idea of the amount of damage, but is not precise, nor does it reveal the location of the damage.
Current CA's are unable to produce a stable picture of the damage as they are quickly washed out of the system and cannot differentiate living from dead material.
The RF Therapeutics Inc. agent sticks to the dead tissue for many hours and provides a clear picture of the exact size and location of the damage - both critical elements in diagnosis and treatment.
Financing And Exit Strategy
Early round financing raised over $400,000 from family, friends and associates. This capital will take RF Therapeutics Inc. through the proof of principle stage.
A second round of financing is planned following proof of principle in the fourth quarter of 2009. The pre-money valuation for this round is $2 million, based on similar net present value models. It is expected that we will need $3 million for chemical scale-up and formal pre-clinical testing, leading to Phase 1 clinical study in humans.
Our exit strategy, at this point, is to sell the technology to large pharma at the completion of a pilot study in humans. The company will continue to develop additional compounds in the pipeline for other applications such as PET and SPECT.