Best name badge at #MHVF – who can help? pic.twitter.com/dsw4n2OAza
— coppedge (@coppedge) March 10, 2015
This isn’t the first time a startup’s broadcasted its funding needs at a conference – but a lack of originality doesn’t meant it won’t draw eyes. Wisconsin oncology startup Peptimed definitely got some attention at this week’s Mid-America Healthcare Venture Forum in Chicago. The angel-funded startup needs $8 million to take it through Phase 2 trials – and, if all goes to plan, the market.
The RNA cancer therapeutics company uses small interfering RNA, or siRNA, to target receptors on late-stage cancer cells – inhibiting the expression of a protein called EVI1 to in turn block cell division and activate apoptosis. When the company mixes its RNA drug with a polypeptide, it self-assembles into a nanoparticle, chief business officer – and wearer of the name tag – Thomas Primiano said. It’s targeting late-stage breast, ovarian, pancreatic and lung cancers. It’s meant to help patients who have cancers that have outwitted all other treatment options.
The startup’s funded with about $1 million from Watson Bioventures, a Chicago-area angel group. It needs to scale up GMP manufacturing before it gets to clinical trials, Primiano said – a process that’ll cost about $1.5 million.
Keeping startups in business is a nebulous business, so you could call Peptimed a comeback kid. Primiano actually founded a separate company, called Nano Oncology, in 2010 – but the state and federal grant-funded operation declared bankruptcy in 2012. Rather than shut down entirely, Primiano allowed the angel group to relaunch the company under a new name, and came on as chief business officer. And now it’s looking for funding, and accelerated approval.
