Leadership: Lane Brostrom, CEO
What it Does: Developing opioid alternative drug
Founded: 2008 (as Cytometix Inc.)
Next goal: Complete phase 2 trials on CMX-020; Secure big pharma partner
Funding: Four angel funding rounds of undisclosed amounts. Public filing for $2 million equity round in 2010.
According to the Centers for Disease Control and Prevention, about 46 Americans die every day from overdoses involving prescription opioids.
Wauwatosa-based CMXTwenty is trying to help solve the opioid crisis. The company is developing a drug it says is a non-addictive alternative to opioids, and is working on phase 2 trials for both intravenous and oral forms of its medication.
CMXTwenty recently completed its Phase 1 maximum tolerated dose human clinical study for the intravenous version of its CMX-020 drug in Australia. The company established a subsidiary there because the Australian government subsidizes medicine development if early trials show promising results, and its regulatory system can be more efficient.
“They have a diversified regulatory system; they have over 50 committees that can approve studies,” said Lane Brostrom, chief executive officer of CMXTwenty. “What that means is we can conduct clinical studies in Australia and then submit them to the FDA.”
So far, maximum tolerated dose studies have been promising, matching the efficacy of remifentanil, a potent opioid used in surgeries.
“We can match this remifentanil at a very high dose and we don’t see any adverse events,” Brostrom said. “We don’t even see a drug feel at that level.” Read the full story here.