The state of Indiana used a $2 million grant to lure PDS Biotechnology, a Cincinnati-based company developing nanoparticle treatments for the immune system that could prevent cancer, HPV and several other kinds of infections, according to a press release.
Indiana used money from its 21st Century Research and Technology fund.
PDS had operated in the BioStart incubator in Cincinnati, so it has received some services through the state. But PDS had never receive state funding through Third Frontier or other programs, said Matt Schutte of BioOhio. Three months ago, the U.S. National Cancer Institute’s Nanotechnology Characterization Lab announced it would work with PDS to complete preclinical development of its HPV-cancer therapy.
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By Chris Seper MedCity News
Chris Seper is the CEO at MedCity Media, which publishes MedCityNews.com. He is also a senior writer at MedCity News. Reach him at chris@medcitynews.com.More posts by Author
Ouch, everyone of these hurt. It wouldn't be so bad if it was just crossing the state line, but they're moving to Indianapolis. Companies will always be moving, but this isn't good to see, particularly since BioStart incubated the company.