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A Louisville businessman is looking to provide the city's medical industry with a dose of pharmaceutical development.
Alex Day recently moved his company, Sheltowee LLC, into MedVenture Technology Corp.'s building at 1044 E. Chestnut St.
Sheltowee will conduct research and development on two pharmaceutical drug therapies. One would melt away arteryclogging plaque. The drug would fight macular degeneration, the leading cause of blindness in people 55 years of age and older.
"We'd like to see clinical trials in two years" on both products, Day said.
Besides Day, who is the president, Sheltowee has two other employees, marketing director Len Smith and product manager Rita Gibson. 'Me company also has three equity holders who plan to assume full-time positions with the company later this year.
MedVenture facility houses company
Sheltowee moved into the MedVenture building last month, and Day has reached an agreement with the Louisville Medical Center Development Corp. to obtain financing to build office and wet-lab space at the facility.
Day and LMCDC officials declined to disclose terms of the agreement, which must be approved by the corporation's board.
The LMCDC helps life-science companies find space in the Louisville Medical Center until its own incubator is in place, said Christi Lanier-Robinson, associate director...