UT Southwestern Medical Center racked up more funding to further cancer research and attract new researchers.
The Dallas medical center recently received $5.8 million from the Cancer Prevention and Research Institute of Texas which will help it progress studies on melanoma, the life cycle of cancer cells, pediatric cancer, and nuclear export signals in proteins.
The funding also includes $2 million in recruitment grants to help UT Southwestern bring in more researchers. To date, UT Southwestern has signed on 34 researchers using CPRIT funds.
UT Southwestern has received $337 million in CPRIT funding since the organization began giving grants in 2009.
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R E A D N E X T
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The Cancer Prevention and Research Institute of Texas (CPRIT) will convert previous grant awards to an equity investment. OncoNano uses pH as a biomarker to detect metastatic cancer. The technology "lights up" a tumor in imaging during real-time surgery.
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Five local winners received up to $200,000 in funding to activate their solutions throughout North Texas.
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The investment was led by Advantech Capital, a PE fund based in China that focuses on TMT, pharmaceuticals, and healthcare. This combined with the support from the Cancer Prevention and Research Institute of Texas (CPRIT), which granted OncoNano $9.97 million last year, will support Phase 3 clinical trials for the biotech's technology that can diagnose and treat cancer with high specificity.
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Southlake-based OncoNano Medicine uses pH-sensitive nanoparticle technology to "light up" cancer for real-time surgical imaging. The multi-year collaboration will seek to uncover new cancer therapies that can benefit from OncoNano's technology. OncoNano raised $50 million in Series B funding in June.
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The Cancer Prevention and Research Institute of Texas awarded a $3.9 million grant to The University of North Texas Health Science Center (HSC) in Fort Worth to expand a program that aims to create more diversity in the medical and biomedical sciences fields.
