Mezzion Pharma Raises Nearly $40M to Advance a First-to-Market Treatment Option for Fontan Patients
Summary
SEOUL, South Korea, April 25, 2023 /PRNewswire/ -- Mezzion Pharma ("Mezzion"), a rare disease focused pharmaceutical company, announced that it has secured nearly $40M USD to fund FUEL-2, their confirmatory phase 3 clinical trial, along with future commercialization and regulatory submissions in other countries including Europe.Mezzion is looking to bring to market JURVIGO\xae (udenafil), a highly selective, unique and potent phosphodiesterase type 5 inhibitor ("PDE-5 inhibitor"), for specific use in the estimated global 70K single ventricle congenital heart disease ("SV-CHD") patients with ages of twelve and above who have undergone Fontan surgical palliation.The average life expectancy for a Fontan patient is 35-45 and apart from JURVIGO\xae, there are currently no other pharmacotherapies undertaking clinical development directed to the Fontan patient population. In addition, we are expanding on global partnerships with hospital systems, advocacy groups, provider networks, and industry leaders dedicated to improving outcomes for those with SV-CHD. BRV, as an institutional investor that focuses not on short-term profits, but on differentiated technology-based investments that can substantially grow, we would like to provide support from the new drug approval of udenafil to the success of global commercialization with strong partnership. BRV Capital helps to create unique long-term growth by backing category winners in their respective industries and maximizing their potential through leveraging over 20 years of deep industry insight and global expertise in applying technological innovations.Founded in 1998, BlueRun Ventures has identified and led several iconic technology investments as the first institutional investor, including PayPal (PYPL), Waze (GOOG), Coupa (COUP), Kabbage (AMEX), Topsy (AAPL), and Chomp (AAPL). Mezzion Pharma is a publicly listed pharmaceutical company in Korea on the Korean stock exchange under (140410:KOSDAQ).Forward-Looking StatementsStatements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.