Pelican Therapeutics, a Subsidiary of Heat Biologics, Receives First Tranche of $15.2 Million CPRIT Grant Award
DURHAM, NC / June 28, 2017 / Heat Biologics, Inc. ("Heat") (NASDAQ: HTBX), a leader in the development of novel therapies designed to activate a patient's immune system against cancer, reported that its Pelican Therapeutics subsidiary is on track to meet product development milestones and has received the first tranche of its $15.2 million Cancer Prevention and Research Institute of Texas (CPRIT) grant award.
"We have made significant progress in advancing PTX-25, our lead antibody, towards the clinic, having completed key milestones, including epitope mapping, affinity maturation and antibody development studies," said Jeff Wolf, Founder and CEO of Heat. "We are pleased that Pelican has received the first tranche of its CPRIT award, which provides non-dilutive funding to cover costs of IND-enabling studies towards a comprehensive, 70-patient Phase 1 clinical trial combining PTX-25 with other immune-oncology drugs"
- Published: 28 June 2017
- Written by Editor