GREENVILLE, S.C.--(BUSINESS WIRE)--SCRA Technology Ventures today announced that Client Company NUBAD has received Small Business Technology Transfer (STTR) matching funds from the SC Launch program. The funds will help the Greenville-based company develop peptide antibiotic nucleic acids.
NUBAD is a drug discovery company devoted to identifying therapeutic agents that target nucleic acids. The company’s technologies and probes assist discovery of DNA and RNA-targeted drugs. Founded in 2009 to commercialize technologies from Clemson University’s chemistry department, NUBAD opened a lab at the Greenville Hospital System’s Institute for Translational Oncology Research (ITOR) facility in 2011. The company was accepted to the SC Launch program in 2012.
“We are delighted to announce another SC Launch company receiving SBIR/STTR matching funds from our technology-based, economic-development program,” said SCRA CEO Bill Mahoney. “The program’s funding match helps South Carolina’s emerging technology companies further commercialize their research, growing our Knowledge Economy. We look forward to the great technologies and contributions that NUBAD will bring to our economy.”
About SCRA and SCRA Technology Ventures
SCRA Technology Ventures helps innovative companies grow and develop new technologies, creating jobs and advancing the Knowledge Economy throughout South Carolina. This SCRA business sector provides support and mentoring to early stage, start-up technology companies through its flagship SC Launch program. Since 2006, SCRA has deployed over $83 million in funding for entrepreneurs and infrastructure to support over 300 high-tech, early-stage enterprises. SCRA has directly invested over $19 million into the program’s top 71 South Carolina start-ups, attracting over $301 million in add-on private investment. The sector also supports commercialization and growth by facilitating the transfer of intellectual property and accelerating the transition of inventions to the marketplace. Additionally, SCRA Technology Ventures invests in more established technology companies through its Stage 2 affiliate.
Multiple economic impact studies show SCRA's cumulative output on South Carolina's economy to be over $16.6 billion, and that the company has helped create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $77,000.
