Meditrina Pharmaceuticals to use 21st Century grant to start clinical trails

Well, Meditrina Pharmaceuticals has the funding down today so it can get ready to do the clinical testing tomorrow.

The Ann Arbor-based firm recently received a $2.6 million grant from Michigan's 21st Century Jobs Fund that will accompany $12.325 million more in matching funds. All of that money will help create 243 jobs over time as the company prepares its main product for a second clinical test.

Meditrina Pharmaceuticals specializes in repurposing drugs for specific women's health issues. The company plans to start the second clinical trail early next year and begin commercializing it in 2012 at the earliest.

The company has grown consistently in its short lifespan. It went from its two founders (Thomas A Collet and Holly Vene) in 2006 to eight employees and about a dozen contractors today.

Meditrina's bread and butter is an aromatase inhibitor in combination with estrogen and progestin for the treatment of endometriosis. Repurposing the drug would allow it to lower estrogen levels in younger women so it can be used to help treat maladies like endometriosis and uterine fibroids.

Source: Thomas A Collet, president, CEO and co-founder of Meditrina Pharmaceuticals
Writer: Jon Zemke

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Meditrina Pharmaceuticals to use 21st Century grant to start clinical trails

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