Startup Develops Fentanyl Vaccine to Prevent Highs and Overdoses

New Startup Ovax Inc. Secures $10 Million for Fentanyl Vaccine Development

A newly launched startup, Ovax Inc., has successfully raised $10 million to advance a potentially lifesaving vaccine designed to prevent fentanyl-induced deaths by stopping the drug from entering the brain. The company plans to initiate human trials early next year. This ambitious project leverages intellectual property from researchers at the University of Houston, who have already demonstrated the vaccine's efficacy in rats.

Addressing a Public Health Crisis

The co-founder of Ovax, JR Rahn, who previously established Mind Medicine Inc., emphasizes the importance of tackling the fentanyl crisis, which he deems a “public health emergency.” Fentanyl, a synthetic opioid far more powerful than heroin, is frequently mixed into illegal drugs and counterfeit pills. This potent substance has been the leading cause of death among Americans aged 18 to 45 since 2019, with an average of 204 fatalities daily last year due to synthetic opioids, mostly fentanyl.

Strategic Funding and Leadership

Rahn, after departing from MindMed in 2021, initiated the funding for Ovax through his family office, Mach5 Capital, in collaboration with crypto entrepreneur Olivier Roussy Newton. Additional investors, such as the Swiss family office Zola Global and investor Jon Dishotsky, also contributed. Dishotsky lauds Rahn as a visionary, stressing the importance of the strong team behind this innovative product that aims to prevent overdose deaths.

Preventative Measures vs. Reversal Tactics

Unlike naloxone, known commonly as Narcan, which reverses fentanyl overdoses if administered swiftly, Ovax’s vaccine seeks to preemptively block the drug’s effects. This would theoretically stop users from experiencing the high or overdosing, making it a potentially revolutionary tool in combating the epidemic.

Company Leadership and Objectives

The team at Ovax includes experienced professionals. Chief Operating Officer Stacy McIntosh previously headed regulatory affairs at Ridgeback Biotherapeutics, aiding in the development of an Ebola therapeutic. Collin Gage, Ovax's CEO, formerly managed corporate development for MindMed. Gage anticipates another round of private fundraising, ultimately seeking hundreds of millions to bring their vaccine to market. “This isn’t some rushed project,” Gage asserts. “We’re re-purposing what currently exists in vaccine technology.”

Collaboration and Future Directions

Ovax is in talks with additional academic groups working on similar initiatives. Researchers in academia have received significant funding from agencies like the National Institutes of Health and the Defense Department to explore opioid countermeasures. However, there has yet to be a major commercial push, an opportunity Ovax aims to seize.

Rahn plans to work closely with state and federal agencies in the development of the vaccine, emphasizing the personal stakes for his team in addressing the overdose crisis. “This mission is personal,” Rahn stated, highlighting the deep connections each team member has to the issue of overdose deaths.