On August 22, 2022 PanTher Therapeutics ("PanTher" or the "Company"), a clinical-stage oncology company developing next-generation targeted therapies for solid tumors, reported that received a $14.2 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT) (Press release, PanTher Therapeutics, AUG 22, 2022, View Source [SID1234618551]). The funding will be used to expand clinical development through Phase 2 of PanTher’s lead investigational therapy, PTM-101, a minimally invasive, implantable treatment for non-metastatic pancreatic cancer that provides direct, sustained release of a known therapeutic agent at the tumor site.
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"Being selected for this highly competitive grant after thorough scientific, medical, regulatory and commercial due diligence, validates the clinical progress achieved so far as well as our mission. This award emphasizes the potential of PTM-101 to significantly benefit individuals with pancreatic cancer, while underscoring the urgent need for safe and effective options for hard-to-treat solid tumors," said Laura Indolfi, PhD, Chief Executive Officer and co-founder of PanTher Therapeutics.
PTM-101 is the first product to emerge from the company’s proprietary Sagittari platform, and it is currently being tested as a first-line treatment in a Phase 1 trial for locally advanced pancreatic cancer.
The Sagittari️ platform leverages interventional oncology procedures to design superior localized cancer treatments with adaptability to multiple solid tumor indications. The enabled customizable products are engineered for precisely transporting proven and novel therapeutic agents on target to attack cancer at the source.
"We are extremely grateful for the support from CPRIT and excited to build deeper collaborations with the local oncology and entrepreneurial communities with the establishment of our operations in Texas," continued Indolfi. "The funding will not only bring PTM-101 through the next phase of clinical development but will also allow us to accelerate the advancement of our novel Sagittari platform technology by expending internal resources to broaden our pipeline."
PanTher was one of nine companies working in the oncology space that received product development funding from CPRIT, with the grants totaling $64 million. The CPRIT also awarded nine prevention grants focused on increasing cancer-prevention and three recruitment grants aimed at enhancing cancer research efforts across Texas.