DepYmed Announces $2 Million Series A

DepYMed Inc. has announced the completion of a Series ‘A’ Round of funding with TopSpin Fund, L.P. for a total of $2 million. At closing, $1 million was received by Depymed, and another $1 million will be provided pending the achievement of specific development milestones.

DepYmed, Inc., headed by a Center for Biotechnology BioEntrepreneur-in-Residence Andreas G. Grill, is a pharmaceutical company focused on phosphatase inhibition for multiple therapeutic applications. The company is currently conducting a phase 1 clinical trial of its lead compound, MSI-1436C (Trodusquemine), as a therapeutic candidate for HER2-positive breast cancer. DepYMed was founded through a joint venture between Ohr Pharmaceutical, Inc. and Cold Spring Harbor Laboratory. Read more about the financing here.

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Life Sciences Summit 2016: November 2-3, NYC

The Life Sciences Summit is an early stage investor and business development conference that highlights innovation. On November 2-3, 2016, emerging biotech companies and academic innovators will convene in New York City to connect with investors and strategic partners with the goal of moving new discoveries through clinical development. The two-day program features corporate presentations by promising young companies with transformative science that targets unmet medical needs. It also features informative plenary sessions, business workshops, and therapeutic sessions.

There is still time to register and participate in this innovative conference that provides attendee the opportunity to networking with potential investors and strategic partners. REGISTER TODAY!

 

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Vitatex Awarded NCI Contract

Vitatex, a Stony Brook-based biotechnology company located in the Long Island High Technology Incubator, has announced that it was awarded an SBIR Phase I/II Fast Track contract in September 2015 from the National Cancer Institute (NCI) for its Vita-Cap™ CTC Capture and Preservation tubes. A modification to exercise the option for a two-year SBIR Phase II of the contract was executed on June 8, 2016.

Vitatex Inc. provides proprietary invasive circulating tumor cell (iCTC) enrichment technology and products to develop revolutionary cancer genetic and cell tests. These “liquid biopsies” focus on next generation sequencing (NGS) detection, gene expression profiling and flow cytometry and have recently been adopted by the clinical laboratory community to characterize cancer cells and/or their RNA/DNA in blood samples non-invasively and serially, and to acquire genetic alternations and drug resistance information, which have the potential to replace tests run on surgical biopsies.

Clinical metastasis of solid tumors is linked to blood-borne dissemination of viable tumor cells in the circulation and clinical instrumentation is now available to isolate, enumerate, culture, generate metastatic mouse models and perform molecular analyses on these circulating tumor cells (CTCs). However, CTCs are fragile and tend to degrade within a few days when collected in standard blood collection tubes.

“The functional CTC preparation tube is designed to collect, enrich and preserve the viability/functionality of cancer cells in blood all within a closed system” said Wen-Tien Chen, PhD., Chief Scientific Officer of Vitatex. “The goal is to define conditions of Vitatex CTC preparation tubes for capturing and preserving cancer cells in the blood of patients with breast, ovarian and other types for up to 96 hours of transit.”

Specific terms of the contract were not disclosed.

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Traverse Biosciences Receives $1.3M NIH/NIDCR Phase II STTR Award

Traverse Biosciences, led by the CFB’s first BioEntrepreneur-in-Residence Joseph Scaduto, has received a $1.3M Phase II Small Business Technology Transfer (STTR) Award in partnership with the School of Dental Medicine at Stony Brook University. Funding from the National Institute of Dental and Craniofacial Research (NIDCR) of the National Institutes of Health (NIH) to Evaluate the Pre-Clinical Safety and Effectiveness of TRB-N0224 for the Treatment of Periodontal Disease. The research will be led by Lorne Golub, DMD, MD (Honorary) in the Department of Oral Biology and Pathology, and Ying Gu, PhD, DDS, in the Department of General Dentistry, who will serve as co-principle investigators on the award, in close collaboration with Traverse Biosciences. Read more here. 

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Codagenix Receives Phase I SBIR Grant for Swine Influenza Virus Vaccine

Codagenix, a CFB client company, has announced that it has been awarded a $99,710 Phase I Small Business Innovation Research (SBIR) grant from the United States Department of Agriculture (USDA) to commence the development of an influenza vaccine for swine. Codagenix will apply its next-generation platform technology to construct a vaccine against influenza viruses that infect swine, which, according to the USDA’s 2014 Census of Agriculture is a $22.5 billion industry here in the United States. Read more here.

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