What NuvOx Therapeutics does

NuvOx Therapeutics, Inc. is a privately held clinical-stage biopharmaceutical company headquartered in Tucson, Arizona, that operates its pharmaceutical activities through a wholly owned subsidiary, NuvOx Pharma, LLC. The company develops NanO2, an intravenous emulsion of dodecafluoropentane (DDFPe) — a perfluorocarbon designed to transport oxygen from the lungs to the blood and from the blood to hypoxic tissues, with the explicit objective of reversing tissue hypoxia across cancer, stroke, respiratory distress, hemorrhagic shock, traumatic brain injury, myocardial infarction and sickle cell anemia. The platform has generated safety data in approximately 2,000 subjects across 7+ indications, holds FDA Orphan Drug Designation for glioblastoma and sickle cell anemia, and is protected by 11 patent families covering 11 issued US patents and 31 foreign equivalents, including US Patent 11,857,627 (January 2024) which broadly claims fractionated radiotherapy and chemotherapy with an oxygen therapeutic.

The company's pipeline is currently organized around three active clinical programs: RESTORE, a US-based Phase IIb in 87 newly diagnosed glioblastoma patients combining NanO2 with radiation and temozolomide; REBORN, an FDA-authorized Phase II in 66 recurrent high-grade glioma patients combining NanO2 with bevacizumab, lomustine and radiation; EXTEND, a dose-escalation Phase Ib and Phase II program in respiratory distress/ARDS partially funded by BARDA and authorized in Canada; and NOVEL, a UK-led Phase IIb in approximately 150 large-vessel-occlusion stroke patients funded by the UK EME Program. Preclinical and translational work extends the platform into triple-negative breast cancer (George Washington University collaboration), spinal cord injury (US Department of Veterans Affairs collaboration), and acute myocardial infarction (FDA IND received March 2025).

NuvOx is pre-revenue: NanO2 is not approved for general medical use and the company is funded through a mix of non-dilutive government grants (NIH NINDS $900K in April 2023, NCI SBIR ~$2M in November 2025, BARDA contract 75A50123C00034, UK EME Program support for NOVEL, Health Canada and MHRA authorizations) and an oversubscribed ~$7 million convertible notes round closed in September 2023 with a syndicate including Keiretsu Capital, MEDA Angels, New World Angels, NO/LA Angel Network, Pasadena Angels and TCA Venture Group. Leadership is anchored by co-founders Dr. Evan Unger (Executive Chairman, recognized with the 2024 Harry Fischer Award for Excellence in Contrast Media Research) and Dr. Jennifer LH Johnson (COO), with Rong Wang as President and CEO and Wilson W. Cheung, CPA, joining as an Independent Board Member in September 2025.

Name

NuvOx Therapeutics

Legal name

NuvOx Therapeutics, Inc.

Website

https://nuvoxtherapeutics.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

NuvOx Therapeutics is a privately held, clinical-stage biopharmaceutical company developing NanO2 (DDFPe), an intravenous perfluorocarbon oxygen therapeutic designed to reverse tissue hypoxia in glioblastoma, stroke, respiratory distress, myocardial infarction, sickle cell anemia and related indications, currently advancing multiple Phase Ib/IIb trials funded by grants and convertible notes.

Ownership category

akta.pro rank

Product category

Oxygen Therapeutics

NAICS

Pharmaceutical and Medicine Manufacturing (3254)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Clinical Development (Phase I–III Trial Design & Execution) (HLAIALAE)

akta.pro secondary industries

Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF), Cardiology & Vascular Specialty Pharmaceuticals (HLAIACAG)

Keywords

• Oxygen therapeutics
• Perfluorocarbon emulsion
• Tissue hypoxia treatment
• Radiosensitizer therapy
• Clinical stage biopharmaceutical

Headquarters

HQ city

Tucson

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Convertible notes financing: Pre-revenue clinical-stage company; in 2023 closed an oversubscribed convertible notes round raising approximately $7 million, exceeding an initial $5 million goal, to fund Phase IIb and Phase Ib trials.
2. Exempt securities offering (Form D): Filing of SEC Form D indicating an exempt securities offering valued at $5 million, with $1,050,000 already sold; reflects private placement capital raise typical of pre-commercial biotech.
3. Government and non-dilutive grant funding: Operations funded largely through grants: $900,000 NIH NINDS grant for SPAN stroke network; approximately $2 million NCI SBIR Direct-to-Phase II grant (with FYR Bio); BARDA contract number 75A50123C00034 (EXTEND respiratory distress trial); UK Efficacy and Mechanism Evaluation (EME) Program funding the NOVEL Phase IIb stroke trial. NanO2 is under clinical investigation and not yet approved for general medical use, so there is no product revenue.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

NuvOx Therapeutics is developing NanO2 (dodecafluoropentane emulsion / DDFPe), a first-in-class intravenously administered perfluorocarbon-based oxygen therapeutic intended to reverse tissue hypoxia. The same active ingredient is being investigated across multiple indications including glioblastoma, acute ischemic stroke, respiratory distress/ARDS, acute myocardial infarction, sickle cell anemia, hemorrhagic shock, traumatic brain injury, and spinal cord injury. The product is currently in clinical development (Phase Ib through Phase IIb) and is not yet approved for general medical use.

Differentiator

Problem solved

Functional benefit

Brands

• NanO₂ (NanO₂™): Lead investigational oxygen therapeutic product candidate of NuvOx; dodecafluoropentane emulsion (DDFPe) designed to enhance oxygen delivery from lungs to blood and from blood to hypoxic tissue. Tested in 7+ indications with safety data in approximately 2,000 subjects.

Products and services

• NanO2 (DDFPe / dodecafluoropentane emulsion) First-in-class, investigational, intravenously administered perfluorocarbon-based oxygen therapeutic designed to improve the flow of oxygen from lungs to blood and from blood to tissue, reversing tissue hypoxia. Tested in 7+ indications with safety data in approximately 2,000 subjects. Currently under clinical investigation and not yet approved for general medical use.

Quantifiable outcome

• Preclinical stroke: 71%–87% mean reduction in infarct volumes (rabbit model)
• +7 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• U.S. Department of Veteran Affairs (VA)coreStrategic or Co-development Partner · 22 April 2026NuvOx entered into a research collaboration agreement with the Department of Veteran Affairs to investigate NanO2 in animal models of spinal cord injury. Project led by Dr. Prodip Bose (Director, MRI/PET, and Translational Neurotrauma Rehabilitation Laboratory, Malcom Randall VA Medical Center, North Florida/South Georgia VA Health System).
• George Washington University (Dr. Pavani Chalasani)coreStrategic or Co-development Partner · 24 November 2025Researchers at the GW University Cancer Center, in collaboration with NuvOx, have demonstrated that NanO2 boosts immunotherapy response in Triple Negative Breast Cancer; two abstracts accepted at prestigious conventions in November 2025.
• FYR BioflagshipStrategic or Co-development Partner · 19 November 2025FYR Bio and NuvOx Therapeutics are collaborating on liquid-biopsy integration into NuvOx's Phase IIb glioblastoma trial. The partnership is supported by a nearly $2 million Direct-to-Phase II SBIR grant from the US National Cancer Institute (announced September 26, 2025; press release November 19, 2025) to identify biomarkers of glioblastoma progression and treatment response using FYR's EV-based liquid biopsy technology.
• University of Texas at Houston (Dr. Sunil Krishnan)coreStrategic or Co-development PartnerDr. Sunil Krishnan serves as lead Principal Investigator of the REBORN Phase II trial (Radiation Enhancement with Bevacizumab, Lomustine, Oxygen Replenishment, and NanO2 [DDFPe] in Recurrent Gliomas) for recurrent high-grade gliomas, FDA-authorized March 4, 2026.
• Center for Neurosciences (Tucson, AZ)minorImplementation/ SI/ Consulting PartnerSite where the first FDA-authorized single-patient Expanded Access treatment of NanO2 for newly diagnosed glioblastoma was administered by Dr. Michael Badruddoja and Dr. Matthew McFarlane on March 10, 2026. Center for Neurosciences is Southern Arizona's largest and longest-standing neuroscience medical practice.
• Covenant Health / Grey Nuns Community Hospital (Edmonton, Alberta)coreImplementation/ SI/ Consulting PartnerCovenant Health is one of Canada's largest Catholic healthcare organizations. Grey Nuns Community Hospital is the EXTEND-1b trial site with Dr. Senaratne as Principal Investigator; enrolled 6 patients per cohort and observed statistically significant improvement in arterial oxygenation.
• Health CanadacoreOthersHealth Canada authorized the EXTEND Phase Ib respiratory distress trial (June 30, 2024) and the subsequent Phase II trial in moderate-to-severe respiratory distress.
• Medicines and Healthcare products Regulatory Agency (MHRA, UK)coreOthersUK MHRA approved NuvOx to commence the Phase IIb NOVEL stroke trial (announced January 21, 2025).
• University of Arizona College of Medicine – PhoenixminorGTM or Marketing PartnerNuvOx Therapeutics executives participated as external biotech industry presenters at the Second Annual Research Week (April 29 – May 5, 2026), which drew a record 793 total attendees.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Diffusion Pharmaceuticals: Developed trans sodium crocetinate (TSC), an oxygen diffusion enhancer targeting the same hypoxia-driven indications as NanO2 including glioblastoma, stroke, and respiratory distress. NuvOx is widely cited as the most effective of 74 clinical-stage oxygen therapeutic compounds, positioning Diffusion as the most directly comparable peer in the oxygen therapeutic category.
• Tenax Therapeutics: Clinical-stage company developing therapies for cardiopulmonary conditions, including hypoxemic respiratory failure and pulmonary hypertension. Overlaps with NuvOx's EXTEND respiratory distress/ARDS program on oxygen delivery and hypoxia-related cardiopulmonary indications.
• Athersys: Developed MultiStem cell therapy for stroke and ARDS — two of NuvOx's lead indications. Comparable in clinical stage, multi-indication positioning, and reliance on government/academic collaborations to advance pivotal trials.

Emerging players

• Kazia Therapeutics: Clinical-stage oncology company developing paxalisib for glioblastoma. Competes for the same GBM patients, investigators, and clinical sites as NuvOx's RESTORE and REBORN trials.
• CNS Pharmaceuticals: Clinical-stage company developing berubicin for recurrent glioblastoma. Directly comparable in trial design (recurrent high-grade glioma) and patient population to NuvOx's REBORN trial.
• Moleculin Biotech: Clinical-stage oncology company developing WP1066 and other hypoxia- and immune-modulating compounds. Comparable in targeting tumor microenvironment and the same grant-driven, investigator-collaborative development model.
• PharmaCyte Biotech: Clinical-stage company developing encapsulated cell therapies for solid tumors including pancreatic cancer. Comparable in pre-revenue, clinical-stage oncology positioning and reliance on academic/clinical collaborations.

Broad incumbents

• NovoCure: Commercial-stage medical device company with FDA-approved Tumor Treating Fields (Optune) for newly diagnosed and recurrent glioblastoma. Represents the established standard-of-care alternative for the lead indication of NuvOx's RESTORE trial.
• Bristol-Myers Squibb: Manufactures lomustine (Gleostine), a chemotherapy backbone in NuvOx's REBORN trial for recurrent high-grade glioma. As a large oncology incumbent, Bristol-Myers Squibb is a potential strategic acquirer or combination partner.
• Penumbra: Commercial-stage company specializing in stroke intervention devices (thrombectomy, aspiration). Represents the established mechanical standard of care in large vessel occlusion stroke, which NanO2 is positioned to complement in the NOVEL Phase IIb trial.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nuvox-therapeutics

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds23 records

Investors11 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NuvOx Therapeutics