On March 14, 2016 WEST LAFAYETTE, Ind. A company from the Purdue Startup Class of 2014 whose innovation could help researchers and oncologists see faster than ever which drug therapies will benefit cancer patients and to what extent, reported that it has received funding from the National Institutes of Health (Press release, Purdue Research Foundation, MAR 14, 2016, View Source [SID:1234509561]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
KinaSense has received a one-year SBIR Phase l grant from the National Cancer Institute worth $203,120, with $50,000 in matching funds from the Indiana Economic Development Corporation and Elevate Ventures. The company’s technology is based on Purdue University intellectual property.
KinaSense’s technology measures the effects of cancer drugs that inhibit growth signals from a kinase, an enzyme in a cancer cell that causes the cell to grow. The technology takes information about what a particular kinase looks for in a substrate, or the protein it acts upon. It narrows the information to a shortlist of traits, which are used to design a molecular probe that reports whether or not the drug is blocking the target kinase’s action inside of the cell.
Steve Ouellette, co-founder and chief technology officer at KinaSense, said the grant will help the company begin laboratory operations.
"The SBIR funds allow us to begin working toward developing prototype tests that can be used in pre-clinical drug discovery to identify new treatments for cancer patients. Specifically, the tests we develop will be used to characterize inhibitors for a class of drug targets called receptor tyrosine kinases," he said. "The grant will also allow us benefits like having access to special programs offered by the NIH/NCI, such as I-Corps, which will help KinaSense mature as a company through specialized business development training."
Ouellette said the award is a major validation of the company’s vision and its technology.
"A lot of uncertainty was endured over the past year and a half developing research strategy, gathering support for the project from potential partners and performing due diligence on our business model," he said. "This grant is a rewarding culmination of that effort, and one of many major milestones toward realizing KinaSense’s mission to help save lives in the battle against cancer.
"I am infinitely grateful to all those who have assisted, especially the Purdue Foundry, our scientific advisers, Laurie Parker and Andrew Lipchik, and our early supporters, Horizon BioAdvance and the Elevate Purdue Foundry Fund."
Ouellette worked on the technology as a doctoral student when it was developed by Andrew Lipchik in the laboratory of Laurie L. Parker, then an assistant professor in Purdue’s College of Pharmacy. Parker and Lipchik co-founded KinaSense with Ouellette, and serve on its scientific advisory board.
About KinaSense
KinaSense is an early-stage biotechnology company based in West Lafayette, Indiana. Our mission is to help save lives in the battle against cancer. We develop novel tests for identifying new therapies and directing their use in the clinic. In doing so, we strive to be on the forefront of precision medicine for personalized cancer care.