Immuno-oncology company Pelican Therapeutics won a $15,245,222m New Company Product Development Award from the Cancer Prevention and Research Institute of Texas (CPRIT).
The award will enable the company to develop agonists directed at TNFRSF25, a recently discovered T cell costimulator for immuno-oncology indications.
Led by Josiah Hornblower, CEO and Chairman, Pelican Therapeutics focuses on developing agonists to TNFRSF25, a T cell costimulatory receptor that has shown promise due to its specificity for stimulating the production of “memory” CD8+ T cells, a strong predictive biomarker of clinical benefit from cancer immunotherapy.
The CPRIT award will allow Pelican to develop its lead agonist monoclonal antibody, PTX-25, through a ~70-patient first-in-man clinical program. An Investigational New Drug (IND) application filing is expected in 2017.
In conjunction with the award, the company will establish its corporate headquarters and laboratory facilities in Austin, Texas.