The Herndon-based Center for Innovative Technology announced on Tuesday a $50,000 investment in Charlottesville-based pharmaceutical firm Xdynia.
Xdynia is working on a new class of compounds that target a common pathway in neuropathic pain, the Cav3.2 T-channel. Neuropathic pain is a chronic condition that occurs due to damage or injury to the nervous system.
Current pain therapies often cause side effects like nausea, vomiting, constipation and dizziness. They also have addictive potential and rapid tolerance. The company says the new product alleviates these problems.
“Xdynia’s therapeutic technology is derived from research conducted at the University of Virginia — research that intends to enhance the treatment for neuropathic pain,” Pete Jobse, CIT’s president and CEO, said in a statement. “This Virginia-based research demonstrates future innovation in the life sciences industry throughout the commonwealth.”
With the funding, Xdynia plans to begin the commercialization of a Cav3.2 product for pain treatment, according to Tom Weithman, CIT’s vice president and GAP Funds managing director.
CIT is a nonprofit corporation that works to advance the next generation of technology companies. CIT GAP Funds are used to make seed-stage equity investments in Virginia-based technology and life sciences companies.
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