“This early stage award is the result of a very competitive process and recognizes Neuro Vigor’s progress to date and its potential as a future target for other investors with whom we might partner to help the company deliver its solutions to patients worldwide,” said Chris LaMothe, Elevate Ventures CEO.
Like past recipients of the “Black Awards,” Neuro Vigor was formed to bring Purdue research to the marketplace.
“We value this vote of confidence by Purdue and Elevate Ventures in our technology, our leadership team and our strategy to pursue this significant healthcare opportunity,” said Mark Van Fleet, Neuro Vigor’s Managing Partner.
Neuro Vigor’s co-founder and chief scientist, Riyi Shi, has discovered a drug that can reduce a powerful neuro-toxin in the body, which has significant promise as a novel therapy for neuro-degenerative disease and injury.
“Neuro Vigor offers a good example of how an outstanding Purdue innovation, such as the potential application of Dr. Shi’s disruptive technology to treat major neurological challenges, could positively impact unmet patient needs in a large underserved global market,” said John Hanak, director of venture capital and funding resources for the Purdue Foundry.
The Elevate Purdue Foundry Fund is operated jointly by officials from the Purdue Foundry, an entrepreneurial and startup hub located on thePurdue University West Lafayette campus, and Elevate Ventures, a private venture development organization that nurtures and develops emerging and existing high-potential businesses into high-performing, Indiana-based companies.