The company broke even in March, Brixey said. “The cash burn is over at this point,” he said.
The company is seeking a 12,000-square-foot space in which to locate operations, Brixey said. Nephroceuticals has four full-time employees working at the offices of Brixey & Meyer, a business consulting and accounting firm in the Dayco building at 1 Prestige Place. In addition, four Brixey & Meyer employees currently devote almost all of their time to Nephroceuticals.
The company is eyeing locations both in and beyond the Dayton area, Brixey said. It hopes to have 20 to 25 employees at its headquarters in a year, Brixey said. Much of that growth will come from bringing in-house some distribution functions and its call center in Utah.
The company’s kidney multivitamin, ProRenal, is available at some local drugstores. The company also has big expectations for a cardiac multivitamin, Cardiamin, set to launch in about two months.
More than $10 million has been invested in the company so far, Brixey said. That includes the $4 million committed by about 300 investors.
Many of those investors are nephrologists from around the nation who the company is counting on to identify “appropriate patients” for the multivitamin. Asked about the potential for conflict of interest, Brixey said each physician would have a “very immaterial” level of ownership (less than 1 percent). And he said those doctors would be encouraged to post in their offices that they are a “proud partner” of the company.
Contact this reporter at (937) 225-7457 or bsutherly@DaytonDailyNews.com.
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