WATERTOWN, Mass.--(BUSINESS WIRE)--PanTher Therapeutics (“PanTher” or the “Company”), a clinical-stage oncology company developing next-generation targeted therapies for solid tumors, received a $14.2 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT). The funding will be used to expand clinical development through Phase 2 of PanTher’s lead investigational therapy, PTM-101, a minimally invasive, implantable treatment for non-metastatic pancreatic cancer that provides direct, sustained release of a known therapeutic agent at the tumor site.
“Being selected for this highly competitive grant after thorough scientific, medical, regulatory and commercial due diligence, validates the clinical progress achieved so far as well as our mission. This award emphasizes the potential of PTM-101 to significantly benefit individuals with pancreatic cancer, while underscoring the urgent need for safe and effective options for hard-to-treat solid tumors,” said Laura Indolfi, PhD, Chief Executive Officer and co-founder of PanTher Therapeutics.
PTM-101 is the first product to emerge from the company’s proprietary Sagittari™ platform, and it is currently being tested as a first-line treatment in a Phase 1 trial for locally advanced pancreatic cancer.
The Sagittari™️ platform leverages interventional oncology procedures to design superior localized cancer treatments with adaptability to multiple solid tumor indications. The enabled customizable products are engineered for precisely transporting proven and novel therapeutic agents on target to attack cancer at the source.
“We are extremely grateful for the support from CPRIT and excited to build deeper collaborations with the local oncology and entrepreneurial communities with the establishment of our operations in Texas,” continued Indolfi. “The funding will not only bring PTM-101 through the next phase of clinical development but will also allow us to accelerate the advancement of our novel Sagittari™ platform technology by expending internal resources to broaden our pipeline.”
PanTher was one of nine companies working in the oncology space that received product development funding from CPRIT, with the grants totaling $64 million. The CPRIT also awarded nine prevention grants focused on increasing cancer-prevention and three recruitment grants aimed at enhancing cancer research efforts across Texas.
About PanTher Therapeutics
PanTher Therapeutics (PanTher) is a clinical-stage oncology company revolutionizing cancer care by harnessing sustained treatments engineered for localized applications. PanTher is bringing the fight against cancer precisely to the target with its proprietary Sagittari™ treatment platform, which is designed to enhance therapeutic response while minimizing side effects. With foundational technology invented at the Massachusetts Institute of Technology (MIT) and subsequently in-licensed by PanTher, Sagittari™ empowers oncologists to treat patients with life-threatening cancer by unlocking a drug’s full potential through direct, sustained treatment at the tumor site. This unique targeting capability positions PanTher to take on the deadliest and most acute cancers. PanTher’s lead clinical candidate, PTM-101, is currently being evaluated in a Phase 1 clinical trial as first-line therapy for localized non-metastatic pancreatic cancers. PanTher is expanding its platform technology to treat additional solid tumor indications. For more information, visit www.panthertx.com.
About Cancer Prevention and Research Institute of Texas (CPRIT)
CPRIT was created by the Texas Legislature and approved by a statewide vote in 2007 to lead the Lone Star State’s fight against cancer. In 2019, Texas voters again voted overwhelmingly to continue CPRIT with an additional $3 billion for a total $6 billion investment in cancer research and prevention. To date, CPRIT has awarded $2.9 billion in grants to Texas research institutions and organizations through its academic research, prevention and product development research programs. CPRIT has recruited 263 distinguished researchers, supported the establishment, expansion or relocation of 44 companies to Texas and generated over $7.4 billion in additional public and private investment. CPRIT funding has advanced scientific and clinical knowledge and provided 7.8 million life-saving cancer prevention and early detection services reaching Texans from all 254 counties. Learn more at www.cprit.state.tx.us.