The Washington University spinout raises capital to develop a therapy for pancreatic cancer.
Accuronix Therapeutics, a cancer drug spinout from Washington University in St Louis, has raised $625,000 from investors including Missouri Technology Corporation, a public–private partnership created by the Missouri General Assembly.
Biogenerator, an early-stage bioscience investor, and unnamed private investors also participated in the round.
Accuronix uses technology created by William Hawkins from Washington University and Robert Mach from Pennsylvania University to develop treatments for cancer by targeting specific cancer cell receptors. The spinout is initially focusing on pancreatic cancer.
Hawkins took advantage of Washington University’s Bear Cub program that supports researchers in making the leap towards entrepreneurship.
Dennis Schafer, chief executive of Accuronix, said: “I was first introduced to Hawkins and his technology through my work as an entrepreneur in residence at Biogenerator and through the Bear Cub competition at Washington University.
“I sensed immediately that it was very promising technology, supported by human data for multiple solid tumour types, and I began working with Hawkins to start Accuronix shortly after he won a Bear Cub award in 2014.”
Hawkins, co-founder of Accuronix, said: “As a pancreatic cancer surgeon, I know patients need a new treatment that works on the more resistant and advanced models of disease. I am excited by the progress Accuronix and our research has made so far.”
