Utah Innovation Fund invests $700k in local healthcare, life sciences startups

The Utah Innovation Fund, a state-backed venture capital fund, has made a collective $700,000 investment in three healthcare and life sciences startups. The companies are 3Helix, part of the University of Utah’s startup portfolio; Rebel Medicine, founded by a UofU graduate; and Inherent Biosciences, a joint development between the UofU and Brigham Young University.

“The Utah Innovation Fund is deeply committed to fostering the advancement of pioneering technologies, and these companies have made significant strides in the field of biomedical innovation,” said Gabi Tellez, managing director for the Utah Innovation Fund.

Jefferson Moss, Innovation Fund managing director said, “We want to make an impact with the funds we invest in to solve some of today’s biggest problems, and the talented teams at 3Helix, Rebel Medicine and Inherent Biosciences are finding those cutting-edge solutions.”

Startup 3Helix aims to address issues arising from damage to collagen, the most abundant protein in the body, leading to problems like arthritis, skin aging, autoimmunity and fibrosis. The solution, called bioACTIVE CHPs, is a technology that binds to damaged collagen and brings with it signals and binding sites that fold into the native environment, allowing cells to respond to their environment appropriately.

“We are incredibly excited about our bioACTIVE CHP technology, and the results we’ve seen are beyond even what we initially expected,” said 3Helix Vice President Toby Barrack. “It represents a complete paradigm shift in therapeutic development where, for the first time, we can target and treat the cellular microenvironment with a set of collagen-based cell signals and binding sites.”

Rebel Medicine developed Alevatrix as an injectable and long-lasting non-opioid anesthetic for post-operative pain. Alevatrix delivers safe and effective pain relief through a cost-effective, easy-to-use pre-filled syringe that lasts up to four days after surgery, eliminating the need for opioids and the negative impacts that come with them.

“Alevatrix will provide clinicians with a safe, effective and affordable alternative to opioids after surgery. It can be used in nearly every surgery and will be a potent tool to prevent new opioid addiction, improve patient outcomes, and reduce the cost of healthcare,” said Brett Davis, co-founder and CEO of Rebel Medicine.

Inherent Biosciences seeks to accurately diagnose men who are experiencing infertility and hopes to improve the current standard of care. Inherent Biosciences’ Sperm Quality Test analyzes the genetics inside sperm, specifically looking at sperm DNA methylation, to diagnose infertility better than the usual tests that just count sperm and general movement patterns.

“A lot of subfertility in men goes undiagnosed, and when men go undiagnosed, women are put through ineffective treatments,” said Andy Olsen, co-founder and CEO of Inherent Biosciences. “We aim to bring more equity to the fertility journey with SpermQT, and this investment will aid us in completing our pivotal clinical trial to gain insurance coverage and clinical guideline inclusion.”

Tom Ngo, Utah Innovation Fund board member, said, “We are proud to stand behind 3Helix, Rebel Medicine and Inherent Biosciences and their innovations, which we believe have the opportunity to make a significant and positive impact on the biomedical industry, Utah communities and beyond.”