Oncoinvent, Lytix and PCI granted funding
Three Oslo Cancer Cluster SME`s emerged as the winners of the Immuno-Oncology Innovation Call. Oncoinvent was as a clear number one of the 10 applications received.
For the first time Oslo Cancer Cluster had the opportunity to grant funding to collaborative innovation projects under the NCE Program’s “Innovasjonsrammen”. Oncoinvent, Lytix Biopharma and PCI Biotech submitted the three winning proposals that have been selected among a total of 10 relevant and interesting projects.
A clear favorite
Oncoinvent applied for funding to evaluate the therapeutic potential as well as possible side effects of a new drug candidate (OI-3 antibody) in preclinical studies. The application emerged as a very clear favorite among the expert panel; and the Oncoinvent team will receive NOK 500.000 to move this forward.
The expert panel consisted of the following: Hans Peter Bøhn from Fondsfinans, Anders Sundan from NTNU, Steinar Funderud from Oslo University Hospital, Radium Hospital and Ole Johan Borge from Innovation Norway.
The expert panel ranked Lytix Biopharma’s and PCI Biotech’s project as number 2 and 3 and proposed to fund these with NOK 250.000 each. The Board of Oslo Cancer Cluster fully agreed with the experts in the Board meeting on October 29 2013. Innovation Norway will enter negotiations with the three winning teams so that the projects can start during this year.
Tina B. Bønsdorff, CEO of Oncoinvent was very glad to hear about the outcome: “We are very pleased and honoured that Oncoinvent’s project is the first choice of the nomination committee. This will have a significant impact on the activity of our company in 2013-2014.”
Also CEO of Lytix Biopharma Unni Hjelmaas expressed her joy: “This is a very positive surprise indeed. This grant will definitively contribute to realizing the project.”
Oslo Cancer Cluster will now follow up this pilot funding scheme with Innovation Norway and the NCE Program.
“The number of quality of applications received in this call indicates clearly the innovation potential within the cluster. We hope that the NCE Program and Innovation Norway will further evolve this important novel funding scheme,” says Jutta Heix, International Advisor of Oslo Cancer Cluster and Project Coordinator for the Norwegian Immuno-Oncology Consortium.
About the funded projects:
The project shall evaluate the therapeutic potential as well as possible side effects of a new drug candidate: OI-3 antibody through pre clinical studies. The project shall also secure a better and broader IPR for the drug candidate.
Lytix Biopharma project:
The project shall identify and explore immunological factors that are present before treatment with Lytix`anti-cancer product LTX-315.The project would also like to explore the potential side effects and toxicity of LTX-315 in the liver.
PCI Biotech project:
The project seeks to generate new IPR for the use of Photochemical Internalisation (PCI) within immune therapy and vaccination. The project also aims to demonstrate that the technology may be used to elevate the cytotoxic T-cell response in vitro and in vivo when applied within immune therapy.