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Growing Our Life Sciences Economy

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Success Stories

Success Story: ProThera

ProThera was founded in 2002 to focus onthe critical role and commercial potential of Inter-alpha Inhibitor Proteins (IAIP) for treating acute life-threatening inflammatory diseases. The basic research originated in the laboratories of the co-founders, Yow-Pin Lim, MD, PhD, and Douglas C. Hixson, PhD, at Rhode Island Hospital


Success Story: Vitae

Jeanine Sinanan-Singh, CEO and Co-Founder

THE INNOVATION

Vitae Industries developed an automated drug compounding platform to be used by hospitals and pharmacies to produce safer and more effective formulations based on a patients’ personal needs.  In addition to transforming the compounding , Vitae has used its platform to create precision zolpidem citrate doses for insomnia and is currently developing precision dose gummies to treat pediatric ADHD.

THE SUPPORT

  • Since 2014 Vitae Industries has received $100K in convertible debt from Slater Technology Fund and $100K from two Commerce RI innovation vouchers to work with Brown University and Rhode Island Hospital
  • Early support led to a $150K SBIR from the Dept. of Health and Human Services and $2.3M follow-on financing from several venture groups
  • Vitae has expanded its team to seven full-time employees, all based in Providence

THE OUTCOME

In 2019, Vitae Industries began distributing its auto-compounder on a national scale, generating significant revenue that will support development of additional precision drug formulations

The growing drug compounding industry is approaching $15B and Vitae Industries is poised to lead it into the era of automation.

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  • About
    • Why Rhode Island?
    • RI BioHub
    • History
    • Success Stories
    • Staff
    • Board of Directors
    • Board of Directors Emeriti
    • Contact Us
  • Membership
    • Directory
    • Cost Structure
    • Apply for Membership
  • News
    • RI-Bio News
    • Biotech Industry News
  • Events
    • Calendar
    • Open Networking
    • Workshops
    • Pitch Events
    • Regional Events
  • Resources
    • COVID-19 Resources
    • Women in Science
    • Clinician-Entrepreneur Network
    • Bio Business Solutions
    • Business Development
    • Jobs
    • Capital
    • Equipment
    • Facilities
    • Videos
    • Mentors
    • Startup
    • Training
  • Member Login
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