Southlake-based biotech startup OncoNano Medication says it’s obtained a $9.97 million grant from the Most cancers Prevention and Analysis Institute of Texas (CPRIT) to develop makes use of for its modern lead product, OHM-100, that “lights up” a tumor to differentiate it from regular tissue.
The grant is OncoNano’s third for its tumor biomarkers. The startup obtained $6 million from the Texas company in 2016 for ONM-100 and one other $15.4 million in 2019 to advance ONM-500, an oncology product that additionally builds on the corporate’s proprietary pH-sensitive expertise.
The Texas most cancers company has been a accomplice because the firm’s founding, OncoNano CEO and co-founder Ravi Srinivasan mentioned. The brand new funding obtained from CPRIT for ONM-100’s pH-sensitive strategy for imaging metastatic illness can resolve “an incredible unmet want,” he mentioned in an announcement.
Srinivasan explains that there are restricted instruments obtainable that may permit medical doctors to visualise tumors which have metastasized, particularly, the “small and disperse ones typically attribute of metastatic illness.”
ONM-100 may also help surgeons visualize most cancers tumors throughout surgical procedure by making cancerous tissue “gentle up,” in line with Srinivasan. The imaging permits for extra precision to make sure that tumors are absolutely eliminated throughout surgical procedure. The product has been granted a Quick Observe designation from the Meals and Drug Administration (FDA) and is presently in Section 2 medical trials.
Through the trials, researchers discovered that ONM-100 additionally can be utilized to picture and stage metastatic illness. That has the potential for saving lives: The advance of visualization of metastatic illness—preoperatively and through surgical procedure—is carefully tied to affected person survival.
OncoNano mentioned metastatic illness represents some 45 to 50 % of all most cancers diagnoses, and it’s the reason for 90% of affected person deaths. Higher visualization of tumors is “crucial for prognosis, staging, therapeutic alternative and efficacy.”
Cindy WalkerPeach, PhD, chief product improvement officer at CPRIT mentioned the company is trying ahead to the medical trials that clearly exhibit favorable impression to most cancers affected person care.
“CPRIT continues to be impressed with OncoNano Medication’s outcomes utilizing their distinctive micelle expertise to detect metastatic most cancers,” she mentioned in an announcement.
OncoNano, which develops merchandise to diagnose and deal with most cancers, has numerous merchandise within the works. The opposite CPRIT funded product, ONM-500 use the startup’s pH-sensitive micelle expertise to ship antigens to activate immunity for the remedy of cancers brought on by the human papilloma virus (HPV).
OncoNano, launched in 2014, is a College of Texas Southwestern spinout. Utilizing expertise invented by Dr. Jinming Gao, professor of pharmacology and otolaryngology, and Dr. Baran D. Sumer, affiliate professor of otolaryngology, the 2 professors co-founded OncoNano with Srinivasan in 2014, Dallas Innovates beforehand reported.
The corporate’s complete funding is about $65 million, in line with Crunchbase. Final yr, Dallas Innovates reported that OncoNano’s Series A funding had reached $35 million in July, and the startup obtained its second CPRIT grant in later that summer time.
OncoNano, a TechFW graduate, has many notable ties within the area along with its spinout from UTSW. As of late 2019, seven of the company’s 20 employees worked at Alcon, together with chief monetary officer Matthew Head. Of these seven, six labored at ZS Pharma, a one-time Coppell biopharmaceutical firm that AstraZeneca acquired for $2.7 billion in 2015. This yr, CEO Srinivasan is chairman of the board of clinical-stage biotech firm CAGE Bio, which expanded to UNT Health Science Center at Fort Value in July.
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