Raleigh, N.C.-based Rex Healthcare's venture capital fund, Rex Health Ventures, has announced its first investment, a $500,000 equity placement in Aerial BioPharma.
Aerial BioPharma, based in Morrisville, N.C., is developing an investigational narcolepsy treatment is currently in Phase 2 clinical trials, and initial data shows promise for controlling the symptoms of the disorder, according to Rex.
Rex Health Ventures is one of the only venture capital funds in the nation managed by a community, non-profit hospital. In addition to providing the financial investment, Rex may use its five sleep centers across Wake County as clinical trial sites for future studies of the company's narcolepsy drug.
Rex Health Ventures is part of the broader initiative known as Rex Strategic Innovations that has the mission of spurring healthcare innovation, improving healthcare delivery and services, and fostering job creation. The fund was started in the spring with an initial $10 million investment from Rex Healthcare.
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Aerial BioPharma, based in Morrisville, N.C., is developing an investigational narcolepsy treatment is currently in Phase 2 clinical trials, and initial data shows promise for controlling the symptoms of the disorder, according to Rex.
Rex Health Ventures is one of the only venture capital funds in the nation managed by a community, non-profit hospital. In addition to providing the financial investment, Rex may use its five sleep centers across Wake County as clinical trial sites for future studies of the company's narcolepsy drug.
Rex Health Ventures is part of the broader initiative known as Rex Strategic Innovations that has the mission of spurring healthcare innovation, improving healthcare delivery and services, and fostering job creation. The fund was started in the spring with an initial $10 million investment from Rex Healthcare.
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