New World Angel Invests $1,040,000 into NuvOx Therapeutics
BOCA RATON, FL (February 10, 2023) – New World Angels (NWA) (www.newworldangels.com), Florida’s premier structured angel investment group, announced today that it has completed a $1,040,000 investment into NuvOx Therapeutics, Inc. (NuvOx), as part of a $5MM convertible note round led by NWA. The funds will support the Phase 2b trial of NanO2 treatment of glioblastoma.
NuvOx seeks to provide novel oxygen therapeutics for fatal diseases. Founded by Dr. Evan Unger, who remains as the Company’s CEO, NuvOx's patented NanO2 delivers oxygen to hypoxic tissues. It is also a novel treatment for strokes, heart attacks, ARDS and traumatic brain injury. By increasing oxygen levels in solid tumors NanO2 makes chemoradiation therapy more effective. NuvOx is moving forward into Phase 2b clinical trials for Glioblastoma and is expected to follow later this year with a large trial for stroke in the UK.
Dr. David Schimel, one of NWA’s leading medical members, noted, “NuvOx’s science is unique and exciting, potentially offering lifesaving treatments for those suffering an array of fatal consequences due to hypoxia. NWA is delighted to be a part of bringing such an important treatment forward to later stage clinical trials and hopefully to patients broadly down the road. We are especially impressed by Dr. Unger’s vast wealth of knowledge in this area and his multiple publications on the subject.”
NuvOx COO and CFO Rong Wang noted, “It is a pleasure to work with seasoned healthcare investors such as New World Angels to move our technology forward. We are delighted that Dr. Schimel will join our board as an observer and share his vast experience as we move through clinical trials.”
Ron Tarro, President of NWA, commented “Healthcare is one of NWA’s four cornerstone investment areas and our healthcare investment group drove our diligence and built our conviction for NuVox. The healthcare group, along with our technology, consumer products, and industrial products investment groups, leverage our deep well of NWA member talent to assess investments and guide our portfolio founders toward growth.
About New World Angels:
New World Angels (NWA) (www.newworldangels.com) is a group of 100 accredited, private investors, operators and entrepreneurs dedicated to providing equity capital and guidance to early-stage entrepreneurial companies, especially those with a strong presence in Florida. Members of NWA have extensive experience in founding, building, and managing companies in a wide variety of industries. NWA members are involved in the entrepreneurial communities from Miami to Jupiter on Florida’s east coast and from Naples to Tampa on Florida’s west coast. NWA has invested over $30MM in growing innovative start-ups. In addition to providing funding, NWA members make their expertise and resource networks available to portfolio companies to facilitate a company’s growth.
About NuvOx Therapeutics, Inc.
Founded by Dr. Evan Unger, NuvOx researches and develops novel therapeutics for fatal diseases, focusing on hypoxia as one of the greatest unmet needs in treating cancer tumors, stroke, ARDS, TBI and heart attack. NuvOx’s lead product NanO2 is backed by safety data in more than 2,000 human subjects and now is moving forward with specific indications for Glioblastoma and stroke.
Media Contact:
Jessica Miley
Managing Director, New World Angels
(617) 504-1864
Jessica@newworldangels.com
NuvOx Therapeutics Inc.
Rong Wang
COO &CFO
(520) 624-6688
rwang@nuvoxpharma.com