Rex Health  Ventures, which is managed by a community non-profit hospital, has invested $500,000 in Aerial Biopharma, a US-based narcolepsy treatment company.

Aerial was formed in January 2011 by a team of biopharmaceutical entrepreneurs.  Aerial’s investigational narcolepsy treatment is  in Phase 2 clinical trials.

Rex President David Strong said: “This is precisely why we created Rex Health Ventures and Rex Strategic Innovations: to find and support promising companies with exciting products that could improve the lives of thousands of patients. We look forward to a long and successful relationship with the very capable team at Aerial.”

Rex Health Ventures’ investment is part of an initial $3.8 million equity financing. Other angels investing were led by Dr. David Adair, and venture firm 3G Capital, led by Rakesh Govindji.

Aerial has a product licensed from the University of North Carolina at Chapel Hill. Aerial was started by the management team of healthcare…

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