Faculty members start own drug co--too few people to benefit for the drug cos
 

Faculty Members Start Own Drug Firm
July 09, 2009|By Veronica Chufo
NORFOLK — Scientists developed a drug that could potentially save the sight of children who had bleeding in the eye.

But no drug company would bite on it.

"It became apparent that the only way to try to get this drug on the market was to form a small drug company," said Pat Williams, a pharmacologist.




EyeRx Research Inc. was created.

The company was launched in 1999 by Williams and three other Eastern Virginia Medical School faculty members...

Back in the 1980s, Crouch was disappointed the only product that would stop bleeding in the eye due to injury was a drug that had to be swallowed. It made children sick and caused them to vomit. That could make the bleeding worse.

So they created a new eye drop.

They still haven't found a taker because there are very few cases of it a year. Drug companies prefer to invest in drugs that have millions of potential users...

http://articles.dailypress.com/2009-...-drug-eye-drop