Friday, October 16, 2009

Medical Research Means Business

A professor at University of Maryland, Baltimore's School of Medicine is showing that he is a businessman as well as a scholar.Dr.J. Marc Simard,M.D.,PhD.,receieved the Research Lecturer of the Year Award from the university in 2007 for discovering a new use of the diabetes drug glyburide.An intravenous form of the drug may be used for treating strokes,head or spinal cord injuries.The drug can reduce brain cell death,swelling and hemorrhaging.In 2008,Dr.Simard received the university's Entrepreneur of the Year Award for his effort to market his discovery.This involved setting up a company,Remedy Pharmaceuticals,which aims to raise enough capital for extensive clinical trials on the way to Food and Drug Administration approval of the new use for glyburide.The company raised its initial goal of 22 million dollars,but more needs to be done.
Dr.Simard has spent many hours pitching his discovery to investors,explaining the complex science and outlining the business implications as well.He has known success as an inventor in the past,with 30 patents issued or pending to his name.Dr.Simard said he's happy to do the legwork for the benefit of patients with untreatable diseases.
University of Maryland, Baltimore has six professional schools,plus a graduate school.It is a world-class research institute and seed-bed for business.

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