Altis Biosystems, EmpowerRT and Irex Pharma receive a combined $110,600 in funding to develop new stem-cell technologies for drug discovery, improved cancer radiation therapies and advances in treating cystic fibrosis
When UNC-Chapel Hill spinout company G1 Therapeutics made its NASDAQ debut in the spring of 2017, most observers in the medical, life sciences and investment community were solely focused on the big number: an $108.6 million initial public offering of the company’s stock. Not Don Rose. As the director of KickStart Venture Services at UNC-Chapel Hill, Rose also reflected on a small figure: the number one. That’s because G1 Therapeutics, a clinical oncology startup that is developing novel therapeutics to shield cancer patients against chemotherapy’s toxic effects, was the first company to receive a Commercialization Award from Rose’s KickStart team.
G1 used the awarded funding from KickStart to get off the ground and make early advances in its research and company formation. Its use of the award is a formula for early-stage startup success that paid off for G1 and a total of 60 companies that have now received more than $1.9 million in funding or services from KickStart. These companies went on to raise $22 million in SBIR/STTR grants and $259 million in total funding. And the previous success continues with three new companies that were recently named the latest KickStart Commercialization Award winners: Altis Biosystems, EmpowerRT and Irex Pharma. The most recent round of funding totaled $110,600 across the three companies.
| UNC-CH