Makai Biotechnology, a firm set up to develop cardiovascular drugs aimed at preventing heart failure, has spun out from the University of Hawaii.

The new company will be licensing technology developed at the institution’s John A. Burns School of Medicine by assistant professor Alexander Stokes, who co-founded the company along with David Watumull, CEO of life sciences firm Cardax, who will act as the company’s senior advisor.

The new therapy looks to circumnavigate one of the most common symptoms of…