Salt Lake City — The Utah Innovation Fund, a state-backed venture capital fund, has invested $700,000 in local health care and life sciences startups. The recipients of this funding are 3Helix, Rebel Medicine, and Inherent Biosciences, all of which are making significant strides in the field of biomedical innovation.
3Helix and Rebel Medicine are part of the University of Utah’s startup portfolio, while Inherent Biosciences is a joint development with Brigham Young University (BYU) and the University of Utah.
The Utah Innovation Fund aims to foster the advancement of pioneering technologies. Gabi Tellez, the managing director for the fund, expressed the organization’s commitment to supporting these companies. The Utah Innovation Fund is deeply committed to fostering the advancement of pioneering technologies, and these companies have made significant strides in the field of biomedical innovation, she stated.
Jefferson Moss, another managing director at the Utah Innovation Fund, echoed Tellez’s sentiments, emphasizing the fund’s desire to make a tangible impact with its investments. We want to make an impact with the funds we invest in to solve some of today’s biggest problems, and the talented teams at 3Helix, Rebel Medicine, and Inherent Biosciences are finding those cutting-edge solutions, Moss said.
3Helix, one of the recipients of the funding, is working on addressing issues arising from damage to collagen, which is the most abundant protein in the body. This damage can lead to problems such as arthritis, skin aging, auto-immunity, and fibrosis. The company’s solution, known as bioACTIVE CHPs, involves a technology that binds to damaged collagen, bringing with it signals and binding sites that facilitate regeneration and appropriate responses from cells. Tests have shown that CHPs can achieve significantly better results than existing therapies.
We are incredibly excited about our bioACTIVE CHP technology, and the results we’ve seen are beyond even what we initially expected, said Toby Barrack, the vice president of 3Helix. It represents a complete paradigm shift in therapeutic development where, for the first time, we can target and treat the cellular microenvironment with a set of collagen-based cell signals and binding sites. If cells are cars, most therapies focus on pressing the gas or the brake; for the first time, we can change the signs on the road. For inflammatory and fibrotic conditions, as well as some other changes that happen in aging, this approach is uniquely better.
Rebel Medicine, another recipient of the funding, has developed Alevatrix, an injectable and long-lasting non-opioid anesthetic for post-operative pain. The current standard practice involves the use of opioids for pain relief, but these medications come with various drawbacks, including the risk of addiction and side effects such as respiratory depression and cognitive impairment. Alevatrix offers safe and effective pain relief through a cost-effective, pre-filled syringe that lasts up to four days after surgery, eliminating the need for opioids and their associated negative impacts. Pre-clinical trials have demonstrated Alevatrix’s robust analgesic effect, and further clinical trials are planned for later this year.
Alevatrix will provide clinicians with a safe, effective, and affordable alternative to opioids after surgery. It can be used in nearly every surgery and will be a potent tool to prevent new opioid addiction, improve patient outcomes, and reduce the cost of healthcare, explained Brett Davis, the co-founder and CEO of Rebel Medicine.
Inherent Biosciences, the third recipient of the funding, aims to improve the current standard of care for diagnosing male infertility. The World Health Organization reports that one in six people globally has trouble conceiving, and male infertility is a significant factor in many cases. Inherent Biosciences’ Sperm Quality Test (SpermQT) offers a more accurate diagnosis by analyzing the genetics inside sperm, specifically looking at sperm DNA methylation. This innovation aims to provide better understanding and personalized, effective treatments for male infertility.
A lot of subfertility in men goes undiagnosed, and when men go undiagnosed, women are put through ineffective treatments, stated Andy Olsen, the co-founder and CEO of Inherent Biosciences. We aim to bring more equity to the fertility journey with SpermQT, and this investment will aid us in completing our pivotal clinical trial to gain insurance coverage and clinical guideline inclusion.
Tom Ngo, a board member of the Utah Innovation Fund, expressed pride and support for the three innovative startups. We are proud to stand behind 3Helix, Rebel Medicine, and Inherent Biosciences and their innovations, which we believe have the opportunity to make a significant and positive impact on the biomedical industry, Utah communities, and beyond, Ngo said.
The Utah Innovation Fund was established to elevate Utah’s economy by commercializing technologies developed at the state’s higher education institutions. The fund’s mission is to support and fund promising startups working on innovative solutions to society’s most pressing problems.
