Local New Orleans Biotech AxoSim Expands Its Business with Acquisition of New Technology and Lab Facility in Minnesota. Biotech Scene in Southeast Louisiana Continues Upward Trajectory with Homegrown Company AxoSim’s Continued Success.
NEW ORLEANS — Local biotech AxoSim, Inc., a leader in the development and application of biomimetic human drug discovery platforms for neurological diseases, today announced completion of its acquisition of the microBrainTM-associated assets of Vyant Bio’s StemoniX subsidiary.
The StemoniX acquisition includes the microBrainTM drug discovery platform, a 14,000 square foot Research and Development (R&D) and manufacturing facility near Minneapolis, nine patents and associated intellectual property, and veteran scientists who helped develop the microBrainTM technology and are experts in its application. Linked by the Mississippi River, the New Orleans headquarters of AxoSim, coined the company’s “Downriver” location, is now joined by colleagues and capabilities almost 1500 miles ‘Upriver” in Minnesota.
Neurodegenerative diseases are the second leading cause of death after heart disease globally. Currently 6 million individuals in the U.S. suffer from a neurodegenerative disease (Dunn, Bell, Biopharma Dive, 2020). AxoSim aims to help solve these devastating diseases with its human powered preclinical drug discovery tools that produce superior results at a fraction of the cost and time for pharmaceutical companies and research partners. Acquiring the new technology, lab facilities and science team provides AxoSim significant additional momentum toward their mission of Empowering Advancements in Human Neuroscience so patients can have access to better treatments and ultimately cures for these diseases.
“Neurological disorders cause enormous suffering and are debilitating for patients, families and society. Unfortunately, new drug R&D for neurodegenerative and other neurological diseases is among the slowest, most expensive and least effective, reflecting the complexity of these diseases and the lack of predictive animal models. Our advanced platforms empower scientists to generate functional, clinically translational human data years earlier in the process, a potentially revolutionary change that we believe will help in the efficient development of effective new drugs for these devastating diseases with few current treatment options and no cures,” said AxoSim CEO and Co-Founder Lowry Curley, Ph.D.
Locally, the biotech scene is continuing to grow and support economic development in Southeast Louisiana. AxoSim is excited to help build this landscape. “This area is not as well-known as it should be for biotech,” said Curley. “There are two medical schools right by our lab at the New Orleans BioInnovation Center (Tulane University and LSU Health Sciences) and a third being developed at Xavier University in partnership with Ochsner Health. Our foundational technology spun out of Tulane, and the area has great resources to build on for life sciences companies like AxoSim.”
AxoSim is viewed as one of the leading biotechnology innovators in the New Orleans region and benefits from broad community support. Among its early investors is Gayle M. Benson, owner of the New Orleans Saints and New Orleans Pelicans. Mrs. Benson noted, “AxoSim’s groundbreaking advancements in neuroscience have proven to be industry leading and remarkable. AxoSim’s dedication to innovation and their unwavering commitment to improving our understanding of the human brain are truly inspiring. Through their cutting-edge technology and acquisitions like this one, AxoSim is paving the way for transformative changes in medicine and our community. We are thrilled to have such an extraordinary company headquartered right in our backyard at the New Orleans BioInnovation Center.”
There are a few factors that make this an especially promising time for the adoption of human biomimetic organoid platforms like AxoSim offers. There is broad and growing regulatory support for the use of alternatives to animal testing, including the Food and Drug Administration Modernization Act 2.0, and human organoids are ideal for this application. The increasing sophistication, bioanalytic capabilities and automation of biomimetic technology, areas in which AxoSim is committed to leadership, are driving greater use. Third, the accelerating pace of adoption by major pharmaceutical firms is spurring others to innovate with live biomimetic models. It is notable that AxoSim already counts 20 of the top 25 pharmaceutical firms as customers.
Jones Walker LLP served as legal counsel to AxoSim, Inc., and LifeSci Capital and Lowenstein Sandler LLP served as advisers to Vyant Bio, Inc.
About AxoSim
AxoSim empowers advancements in human neuroscience and is mission-driven to develop biomimetic human models with the potential to jump-start the discovery and development of breakthrough therapies for neurological diseases. It partners with biopharma companies to facilitate therapeutic innovation by empowering drug developers to obtain relevant human data early in the R&D process, reducing the time and cost of drug discovery and increasing the probabilities of success. The company’s proprietary drug discovery platforms NerveSim®, BrainSim® and microBrainTM deliver clinically-relevant functional data enabling selection of better lead candidates with phenotypically accurate assays. AxoSim’s platforms currently have applications in peripheral neuropathy and neuropathic pain, multiple sclerosis, seizure disorders, neurotoxicology, and other diseases. For more information, visit www.axosim.com.
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