Dr. John Ballantyne, Aldevron’s co-founder, has invested $3 million in CureLab Oncology and CureLab Veterinary. The two sister companies developed an anti-cancer and anti-inflammatory drug, which Aldevron contract-manufactured during Dr. Ballantyne’s tenure as chief scientific officer.
The investment positions both companies to meet the R&D milestones required for additional funding rounds.
CureLab Oncology and CureLab Veterinary are both working on plasmid therapies (circular DNA encoding a gene called p62/SQSTM1). The p62 plasmid is being used to treat human cancers by CureLab Oncology.
The funds will enable CureLab Oncology to ramp up toward FDA-monitored clinical trials for triple-negative breast cancer and platinum-resistant ovarian cancer in 2023, following impressive clinical data presented at the European Society for Medical Oncology Congress in Paris and significant ongoing progress of the company’s clinical studies.
RTX Ventures has expressed its investment interest in companies that are engaged in groundbreaking innovation that could revolutionize aerospace and defense.
According to Dan Ateya, the president and managing director at RTX Ventures, NPS has made considerable strides in radar technology that will enable a wide range of radar applications, including the defense of our airspace.