Innovation

Pittsburgh startup Lipella Pharmaceuticals is looking to raise $3 to $5 million for a novel bladder therapy that may provide relief to the 17 million Americans who suffer from an overactive bladder, or "gotta go."

The technology is inspired by liposomes, tiny nano-sized bubbles of fat capable of carrying drugs in the body. The liposomal therapy, which was proven safe in a foreign study, works to coat the bladder much like Pepto Bismol coats the stomach to reduce inflammation, explains Dr. Michael Chancellor, founder, chief scientific officer.

In addition to treating urge incontinence, Lipella would provide the first available treatment for interstitial cystitis, painful bladder syndrome that affects more than one million people in the U.S. "If it all works out, it will be a multi-million dollar business," says Chancellor who has lived in Squirrel Hill since 1997.

The Series A would enable the company to move quickly into FDA clinical trials. Lipella has already raised $2 million through investments and grants, $216,000 from angel investors and funding from the Pittsburgh Life Sciences Greenhouse.

Lipella currently employs 12, a mix of full and part-time employees and consultants, and hopes to hire in the near future. The startup has a research office and clean room manufacturing facility in the Lexington Building in Point Breeze next to Construction Junction.

Internationally recognized as the leader in urinary bladder treatment and research, Chancellor was also co-founder of technology licensed to Cook Myosite, the first approved urologic muscle pregenital cell clinical trial in the U.S. and Canada. Cook Myosite is located in a state-of-the-art biotech facility in RIDC park and employs 30.

Writer: Debra Diamond Smit
Source: Dr. Michael Chancellor, Lipella

Image courtesy of Lipella

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