Ochsner’s follow-on investment underscores commitment to advancing SRP-001 as a leading candidate in the burgeoning non-opioid therapeutic space
South Rampart Pharma, Inc. , a clinical-stage biotechnology company advancing best-in-class, non-opioid pain therapeutics, announced the appointment of Pete November, CEO of Ochsner Health, to its Board of Directors. Mr. November’s appointment coincides with a strategic investment by Ochsner Health in South Rampart’s Series A financing round, which will support the Phase 2 randomized clinical trial of SRP-001, the Company’s lead analgesic candidate.
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Mr. November commented, “We have supported South Rampart as an investor from its early stages, and now, as the Company has rapidly advanced to mid-stage clinical trials, I am excited to join the Board at this pivotal moment. Their innovative approach to pain aligns with our mission at Ochsner Health to deliver safer, more effective healthcare solutions. I look forward to contributing to the Company’s growth and clinical success as we work to alleviate opioid dependency and enhance patient outcomes.”
Ochsner Health is a nationally recognized leader in healthcare innovation and clinical excellence, consistently ranked among the top healthcare systems in the United States. Mr. November brings extensive healthcare leadership and strategic expertise to South Rampart. As CEO of Ochsner Health, Louisiana’s largest not-for-profit academic health system, he has driven a culture of innovation, technological advancements, and strategic partnerships over the past decade. Previously, Mr. November held senior executive roles at LHC Group and served as an equity partner at Alston & Bird, where he specialized in healthcare transactions and governance.
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“Mr. November’s exceptional leadership record, combined with his deep knowledge of healthcare management, strategic partnerships, and healthcare investment strategies, will significantly strengthen our ability to advance SRP-001 into late-stage clinical development and, ultimately, commercialization,” said Hernan Bazan, MD, FACS, Co-Founder and CEO of South Rampart. “His appointment highlights our commitment to addressing the urgent unmet medical need for safe, effective non-opioid pain therapies.”
Dr. Bazan was awarded the National Institutes of Health Trailblazer Award in 2024 for advancing SRP-001 as a novel non-opioid pain candidate. SRP-001, which has received FDA Fast Track designation for the treatment of acute pain, leverages a novel, non-addictive mechanism of action that has demonstrated compelling pain relief in multiple preclinical and Phase 1 studies without the toxicities associated with acetaminophen, NSAIDs, or opioids. The upcoming Phase 2 trial is expected to deliver critical proof-of-concept results within 12 months, positioning SRP-001 as a transformational solution in the rapidly expanding pain management market—projected to surpass $40 billion by 2030.
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Source – businesswire
