CHICAGO--(BUSINESS WIRE)--Third Coast Therapeutics, a biotechnology company dedicated to developing orally active, small-molecule drugs, is pleased to announce its chief executive officer, Joseph Luminiello, was named a 2019 Notable Entrepreneur by Crain’s Chicago Business. The award recognizes executives in the Chicago area that have gone above and beyond to realize novel business opportunities, as well as demonstrate exceptional skill in finding innovative ways to solve problems and create additional value within their space.
“Third Coast Therapeutics was created with an idea that if you can stop the spread of cancer, patients may have a better chance at overcoming their disease. Together with my cofounder, Dr. Raymond Bergan, we developed a compound called 3crx98 to do just that – stop cancer in its tracks,” said Karl Scheidt, Ph.D., cofounder of Third Coast Therapeutics and professor of chemistry at Northwestern University. “Under Joe’s leadership, Third Coast Therapeutics is moving to the next level of drug development to advance 3crx98 through preclinical studies so that it may one day be a therapeutic that greatly impacts patient lives.”
Metastasis is estimated to cause 90 percent of cancer mortalities and there are currently no drugs approved to inhibit this deadly process. Third Coast believes that developing a therapeutic to keep cancer cells localized would give existing therapies a better chance at destroying cancer cells at the primary tumor site. Under Mr. Luminiello’s leadership, and with guidance from its board and scientific founders, Third Coast has completed critical mechanistic studies on 3crx98. Focusing first on triple negative breast cancer, Mr. Luminiello plans to grow the company in order to complete preclinical research, submit an investigational new drug application to the FDA, and begin human clinical trials.
“It’s an honor to be recognized by Crain’s, along with all the other outstanding entrepreneurs in this year’s list,” said Mr. Luminiello. “Finding a way to stop cancer metastasis has eluded scientists for decades, but early studies on Third Coast’s clinical drug candidate show great promise for inhibiting cancer cell movement. I look forward to continuing the progress we have made over the last few years by working to advance 3crx98 toward the clinical trials for triple negative breast cancer.”
Mr. Luminiello became CEO of Third Coast Therapeutics in 2017, after a nearly 30 years in the healthcare and life sciences industry. His efforts have paved the way for Third Coast to join the Keiretsu Forum, a global investment community that has further expanded the company’s capital generating opportunities.
The 2019 Notable Entrepreneurs list appears in the September 16 issue of Crain's Chicago Business at chicagobusiness.com.
About Third Coast Therapeutics:
Third Coast Therapeutics is a biotechnology company dedicated to developing orally active, small-molecule drugs that target the spread of cancer cells. Metastasis is estimated to cause 90 percent of cancer deaths. There are currently no approved drugs targeting this process. Third Coast’s lead candidate, 3crx98, is specifically designed to inhibit the movement of cancer cells without toxic side effects seen with other anti-metastatic therapeutics. The company was founded on research out of Northwestern University from the labs of Karl Scheidt, Ph.D. and Raymond Bergan, M.D. Third Coast Therapeutics is headquartered in Chicago. For more information visit: https://www.3crx.com/