Intensity Therapeutics, Inc. Raises $10 Million Series A

Intensity

 

 

Intensity Therapeutics has announced that it has secured $10 million in new capital from a Series A preferred stock financing. Participants included Batterson Venture Capital, VCapital, FastForward Innovations, SalvaRx Group PLC, Declan Doogan M.D. and Jim Mellon as well as several other accredited investors and family offices.

Lead by President and CEO Lewis H. Bender, the company is developing a proprietary cancer immunotherapy products. In a statement Bender said, “Our lead drug, INT230-6, has shown strong results in severe murine models of metastatic cancer via a combination of direct tumor killing and immune system activation.” According to Bender, “Proceeds will be used to fund operations, manufacture the clinical supplies, permit the needed regulatory filings and conduct a series of clinical trial cohorts in cancer patients with various tumor types.”

The company has also announced the addition of Dr. Decalan Doogan former Senior Vice President and Head of worldwide drug development at Pfizer and Emer Leahy, Ph.D., CEO of PsychoGenics will join Intensity’s Board of Directors. More information about Intensity Therapeutics can be found on the company’s website: www.intensitytherapeutics.com.

Rgenix Announces $33M Series B Financing

regenix_web1Rgenix, a cancer therapeutics company developing first-in-class drugs targeting novel cancer pathways, announced a $33 million Series B financing led by Novo A/S and Sofinnova Partners, with participation from existing investors including Partnership Fund for New York City, Alexandria Venture Investments, and Conegliano Ventures LP. The financing will support clinical development of Rgenix’s lead drug candidates, RGX-104 and RGX-202, as well as further development of its therapeutics pipeline.

In connection with the financing, Nilesh Kumar of Novo Ventures and Antoine Papiernik of Sofinnova Partners will join the Rgenix Board of Directors together with existing members, including Executive Chairman Eric Rowinsky, M.D., Masoud Tavazoie, M.D. Ph.D., Nancy Chang, Ph.D., and Saeed Tavazoie, Ph.D. Read the full press release about Rgenix’s financing here.

Traverse Biosciences Secures $500k Seed Financing

Traverse Biosciences has announced that it has secured $500,000 in convertible debt financing to support operations and advance product development efforts. The seed financing was led by Excell Partners, with matching funds from a number of individual accredited angel investors. The Research Foundation for the State of New York (RF/SUNY) also participated in the financing, as part of an exclusive license and option agreement executed last year that gave Traverse Biosciences access to the relevant intellectual property for use in animal and human health.

Traverse Biosciences, which began when CEO Joseph Scaduto was serving as a BioEntrepreneur-in-Residence for the Center for Biotechnology, is working to commercialize its proprietary library of Stony Brook University invented chemically-modified curcumins for the treatment of chronic inflammatory conditions and cancers affecting humans and animals.

Read more about Traverse and the recent financing:

 

 

SBIR/STTR Grant Proposal Writing Clinic

SBIR/STTR Grant Proposal Writing Clinic
July 13th and 14th, 8:30am – 4:30am
Small Business Development Center
Stony Brook University R&D Park

The Small Business Development Center (SBDC) at Stony Brook University is holding a free SBIR/STTR Phase I Proposal Writing Clinic July 13, 2016, followed by one-on-one counseling for in process SBIR/STTR proposals on July 14, 2016. Presented and instructed by Sharon Ballard of Enable Ventures, Inc. This clinic will hone your skills and help you to prepare proposals for Phase I or Phase II SBIR/STTR grants.

In order to participate in the clinic you must become a SBDC client. The SBDC will examine your proposed idea to make sure it will qualify for this program. Space in the July clinic is limited. The deadline for submission is June 17, 2016.

In order to start the process please click on the link below to get the proposal application questionnaire:
https://drive.google.com/file/d/0B3Z_tmGrNoJ0Z01XSElZRFNLS3M/view?usp=sharing

Please answer the questions and submit those answers via soft copy to the following email address: sbdc@stonybrook.edu. The submissions will be reviewed by committee. Those selected to participate will be notified after June 17th.

To register or for more information call 631-632-9837 or email sbdc@stonybrook.edu

New York-color with band_400 SBDC

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TheraSource LLC receives $3M SBIR Grant

TheraSource LLC, a Feinstein Institute for Medical Research spin-out, has received a $3 million three-year Small Business Innovation Research (SBIR) grant from the National Institute of Allergy and Infectious Diseases (NIAID), which is part of the National Institutes of Health (NIH). The grant will support the development of human ghrelin as an innovative treatment to alleviate health damage caused by unintentional radiation exposure.

TheraSource has been a client of the Center for Biotechnology and the organization is proud to have played an integral role in the helping the company advance their business and technology strategy. As noted by Diane Fabel, Director of Operations for the Center for Biotechnology, “The Phase II award for TheraSource is a significant landmark for the company and an important milestone for the region.”

Ping Wang, MD, founder of TheraSource and Chief of Scientific Officer (CSO) of the Feinstein Institute has stated “Human ghrelin has been investigated in clinical trials of other indications.  With our new findings, we will soon be able to file an Investigational New Drug application to US Food and Drug Administration,” said Dr. Wang. “TheraSource has received investments to fund its various projects and is seeking strategic partnerships towards the goal of clinical development and commercialization.”

For more details, read the company’s press release here.