Southlake’s OncoNano Medicine, Inc. has been awarded $15.4 million to continue to develop one of its cancer treatment candidates. The funding is from the Cancer Prevention and Research Institute of Texas will go toward pre-clinical and clinical development as well as the first phase of a trial for cancer caused by the human papilloma virus.
The treatment is called ONM-500, which delivers antigens while engaging the immunity that already exists in the human body, fighting cervical, head, and neck cancers caused by HPV. CPRIT, which has awarded $2.4 billion in grants to Texas research, has funded the product which was first invented at UT Southwestern Medical Center.
“We are excited to be awarded this impactful grant and are extremely grateful to CPRIT for their continued recognition and support of the development of OncoNano’s technology platform for identifying and treating cancer in its various forms,” says Ravi Srinivasan, CEO of OncoNano Medicine via release. “Our pH-sensitive micelle approach to cancer therapy with ONM-500 and our other product candidates have the potential to meaningfully advance cancer-specific targeting and administration.”
“This award emphasizes CPRIT’s priority of investing in early translational research into cancer detection, prevention, and treatment. OncoNano’s technologies have significant potential for breakthroughs in cancer detection and treatment,” said Wayne Roberts, CEO of CPRIT via release. “Nurturing projects like OncoNano’s will continue to make Texas a hub for scientific advancement and innovation. I look forward to OncoNano’s progress as they take their technologies through development.”