Pharma, Startups

Biotech startup developing prostate cancer treatment is raising $7.5M

A biotechnology startup that spun out of  University Hospitals of Cleveland last year has raised […]

A biotechnology startup that spun out of  University Hospitals of Cleveland last year has raised its first big round of financing since its launch two years ago. Dual Therapeutics, which is developing
therapeutics for prostate cancer, lung cancer and acute lymphoblastic leukemia, is raising $7.5 million, according to an amended Form D filed with the U.S. Securities and Exchange Commission.

The company is currently based at Harlem Biospace, a life science incubator that opened in New York City last year.

Its technology is based on cancer research from the Icahn School of Medicine at Mount Sinai. It was formed by BioMotiv, the accelerator affiliated with The Harrington Project for Discovery & Development.

A research team led by Michael Ohlmeyer, an associate professor of structural and chemical biology at Mount Sinai, discovered a way to trigger the death of certain tumor cells. The team found that two tumor suppressor genes, KLF6 and FOXO1, are turned off as cancer spreads throughout the body. Their approach uses small molecules to modulate those two key tumor suppressors. The researchers have demonstrated in vivo anti-tumor activity in multiple cancer models.

The startup is expected to file an IND with the FDA early next year

Although the company has received funding from the Partnership Fund for New York City and BioMotiv, seven other investors are listed on the SEC filing.

The American Cancer Society predicts 233,000 new cases of prostate cancer will be diagnosed this year, mostly in men above the age of 40. For acute lymphoblastic leukemia, 2,670 children ages 14 and younger and 410 adolescents between the ages of 15 and 19  are expected to be diagnosed with the condition this year.

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