PPI Pharmaceuticals, a spin-out of South Carolina University, has secured matching funding from SC Launch’s Small Business Technology Transfer. The size of the original investment, and thus of the matching funding, remains undisclosed.
The spin-out will use the money to fund its oncology research and development. Its technology is based on original research conducted by Campbell McInnes and creates compounds that specifically target tumour cells while avoiding healthy cells.
PPI is a portfolio company of Scra Technology Ventures, which operates SC Launch. Scra was set up by the government of South Carolina in 1983. In the last seven years, Scra has invested $83m in more than 300 early-stage companies. It also assists in the tech transfer process.
Bill Mahoney, chief executive at Scra, said: “We are delighted to support PPI Pharmaceuticals through this Small Business Technology Transfer match. Advancement of technologies to the marketplace, like PPI Pharmaceuticals’ therapeutics, will bring better jobs to our state’s knowledge economy as well as better options for oncology specialists and their patients.”
