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SCRA's SC Launch Invests $200,000 in Vitasol, LLC

Submitted by: Ashley Hannah on Nov 19, 2010 at 7:20 pm Tagged with: Bio, Knowlege-Based Economic Growth, SC Launch Source: SCRA

GREENVILLE, SC – November 18, 2010 –SCRA, on behalf of its SC Launch affiliate, presented a “big check” to its most recent Portfolio Company, Vitasol, LLC, at the 2010 SC MedTech Conference on Thursday.

Vitasol is a Columbia-based life science company created to improve therapies in the field of emergency medicine and critical care. At the forefront is Vitasol’s first product, Resuscinex®, a patented multi-component IV fluid for the treatment of hypovolemia (blood and/or fluid loss from the vascular system). Resuscinex® works by drawing fluid out of the microscopic spaces between cells and into the vascular system. This restores blood pressure, which often drops sharply in shock victims who have lost blood, and also restores normal heart rate. In addition, the formula provides anti-oxidants, anti-inflammatory agents and intermediate energy to cells while increasing blood flow in capillaries, the tiny vessels that are critical for supplying oxygen and nutrients to tissue.

The company was founded and advanced by several researchers at the University of South Carolina (USC) School of Medicine. Trauma surgeon Stephen Fann, MD, FACS is the Chief Medical Officer of Vitasol. Fann, a School of Medicine faculty member, has long wanted a better alternative to the IV fluids traditionally used to stabilize victims of severe blood loss. Together with his colleagues, Michael Yost and John Propst, he soon might have it. Michael Yost, PhD is Director of Research in the Department of Surgery at the USC School of Medicine and Chief Operating Officer of Vitasol. John Propst, PhD, MBA, the company’s President and CEO, earned his doctorate from the USC School of Medicine while researching biomedical science with Fann and Yost. Passionate about the business implications of cutting edge biotechnology, he also earned his MBA from the USC Darla Moore School of Business.

“We started this company hoping to solve a major problem for trauma victims and improve treatment outcomes in critical care situations,” stated Vitasol CEO John Propst. “The domestic market is quite large and the global implications are significant. Our initial test results are very encouraging, and with this investment from SC Launch we will be able to secure follow on investments and move our research discoveries that much closer toward improving patient care.”

Resuscinex® is highly portable, effective at very low volumes and has an extended shelf life. Current results demonstrate that Resuscinex® is effective at one tenth of the dose of standard IV fluids. This improves the patient’s fluid balance, reduces the dilution of blood and clotting factors and eliminates serious complications that often result in mortality or life-long morbidity.

Vitasol plans to begin human trials in coming months and is currently seeking FDA approval. The company hopes to ultimately establish manufacturing of its Resuscinex® product in the state.

“Vitasol’s technology promises to deliver significant advances for the healthcare provider to multiple-injury victims,” said SCRA CEO Bill Mahoney. “The company has developed an entirely new system for treating shock victims that could be applied in the battlefield and in hospitals everywhere. We are delighted to present this emerging life science company with a “big check” investment, and look forward to the continued technology discoveries and economic impacts that will come from Vitasol.”

SCRA has provided funding and support, through its SC Launch program, for 188 qualified entities since its inception in 2006. The SC Launch program has attracted more than $104 million in add-on, private equity investment funding in South Carolina knowledge-based start-up companies.