NMA Funds Tyrosine Pharmaceuticals’ Stroke Therapy

Tyrosine Pharmaceutical

Tyrosine Pharmaceuticals presented to the New Mexico Angels at our Membership Dinner in April. Upon completion of our due diligence our investors moved forward with funding the innovative stroke drug therapy company.

Today, Dan Mayfield of Albuquerque Business First covered the story, reprinted below.

“The New Mexico Angels have committed to investing $250,000 in the New Mexico biotech startup Tyrosine Pharmaceuticals Inc.

Tyrosine is developing a new class of drug aimed at protecting against stroke injuries, utilizing technology developed at the University of New Mexico by company CTO Dr. Surojit Paul.

“There are not a lot of therapies for strokes,” said John Chavez, president of New Mexico Angels, an early-stage investment group. “UNM had the research worked out, and developed it for 10 years, and we licensed it.”

The Angels closed on the deal late Wednesday night, Chavez said. The goal, Chavez said, will be to identify which tests will be required to prove efficacy, and to possibly do animal tests.

“If we can do that, we’ll shop it to a big pharmaceutical company,” Chavez said.

Tyrosine was awarded a $1.6 million National Institutes of Health grant in February of this year to research the new therapy.

SOURCE: ALBUQUERQUE BUSINESS FIRST

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