Navigation Links
OncoMed Pharmaceuticals Awarded Five Therapeutic Discovery Project Grants Totaling $1.2 Million
Date:11/2/2010

REDWOOD CITY, Calif., Nov. 2, 2010 /PRNewswire/ -- OncoMed Pharmaceuticals, Inc., a company developing novel therapeutics that target cancer stem cells, announced today that it has been awarded $1.2 million to support five distinct therapeutic programs under the U.S. Government's Qualifying Therapeutic Discovery Project ("QTDP") program.  All of the grant applications submitted by the company received an award.  The funds will be used to continue development of each of five promising therapeutic programs.

"The QTDP program provides our industry with needed capital to maintain the U.S.'s lead in biomedical innovation, support the development of breakthrough medical discoveries, sustain industry growth, and improve the time and speed of the FDA and CMS in getting life-saving medicines to people.  This will in turn enhance the willingness of private and public investors to fund these projects and companies, thus creating jobs and better quality healthcare for all Americans," said Paul Hastings, President and Chief Executive Officer of OncoMed Pharmaceuticals.  "We are pleased to see OncoMed recognized by the award of these QTDP Program grants, which value the scope of our research and emerging pipeline of anti-cancer stem cell therapeutics programs.  We look forward to applying these funds to development candidates arising from our insights into multiple cancer stem cell pathways and cancer biology."

The Qualifying Therapeutic Discovery Project Program was created by Congress as a temporary tool to support innovation and job creation by biotech companies.  Under the QTDP program, a total of $1 billion in grants or tax credits was made available to companies with 250 employees or fewer.  Grants may cover up to 50 percent of the costs of qualifying biomedical research and only one credit may be awarded per therapeutic product.  To be eligible for the program, projects must show reasonable potential to do the following: result in new therapies to treat areas of unmet medical need; prevent, detect, or treat chronic or acute disease and conditions; reduce long-term health care costs; or significantly advance the goal of curing cancer within a 30-year period.  Projects were selected jointly by the Treasury Department and the Department of Health and Human Services.

About Cancer Stem Cells

Cancer stem cells, a small, resilient subset of cells found in tumors, have the capacity to self-renew and differentiate, leading to tumor initiation and driving tumor growth, recurrence and metastasis.  Also referred to as "tumor-initiating cells," these cells were first discovered by OncoMed's scientific founders in breast cancer and have subsequently been identified in many other types of solid tumor cancers, including cancer of head and neck, lung, prostate, pancreas, and glioblastoma.  Cancer stem cells appear to be preferentially resistant to both standard chemotherapy and radiotherapy.  OncoMed's strategy is to improve cancer treatment by specifically targeting the key biologic pathways which are thought to be critical to the activity and survival of cancer stem cells.  OncoMed's antibody therapeutics target cancer stem cell proteins and have the potential to be developed against a range of tumor types.  

About OncoMed Pharmaceuticals

OncoMed Pharmaceuticals is a clinical-stage company that discovers and develops novel therapeutics targeting cancer stem cells, the cells believed to be capable of driving tumor growth, recurrence and metastasis.  A leader in cancer stem cell research, the company has established a library of antibodies to cancer stem cell proteins for the treatment of solid tumors such as pancreatic, breast, colorectal and lung cancers.  OncoMed's lead candidate, OMP-21M18, is currently in Phase Ib clinical trials.  In addition to OMP-21M18, OncoMed's pipeline includes several novel preclinical product candidates targeting multiple validated cancer stem cell pathways.  OncoMed has formed strategic alliances with Bayer Schering Pharma and GlaxoSmithKline.  Privately-held, OncoMed's investors include:  US Venture Partners, Latterell Venture Partners, The Vertical Group, Morgenthaler Ventures, Nomura Phase4 Ventures, Delphi Ventures, Adams Street Partners, De Novo Ventures, Bay Partners and GlaxoSmithKline.  Additional information can be found at the company's website: www.oncomed.com.


'/>"/>
SOURCE OncoMed Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Bayer and OncoMed Pharmaceuticals Enter Strategic Alliance to Develop Anti-Cancer Stem Cell Therapeutics
2. SynCo Expands Agreement with OncoMed Pharmaceuticals to Manufacture Cancer Stem Cell Antibodies
3. OncoMed Chooses SynCo Bio Partners to Fill and Finish its Lead Antibody
4. Transcept Pharmaceuticals to Report Third Quarter 2010 Results and Host Conference Call on November 11, 2010
5. Anthera Pharmaceuticals Reports 2010 Third Quarter Financial Results and Operational Update
6. ISTA Pharmaceuticals Reports Third Quarter 2010 Financial Results
7. DUSA Pharmaceuticals, Inc.® to Host Third Quarter 2010 Corporate Highlights and Financial Results Conference Call
8. Access Pharmaceuticals Awarded $1.5 Million in Section 48D Grants
9. Anadys Pharmaceuticals to Report Third Quarter 2010 Financial Results
10. Alder Biopharmaceuticals Appoints Bruce Montgomery to Board of Directors
11. Alexza Pharmaceuticals to Announce 2010 Third Quarter Financial Results on November 9, 2010
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... 12, 2017 West Pharmaceutical Services, Inc. ... for injectable drug administration, today announced that it will ... on Thursday, October 26, 2017, and will follow with ... expectations at 9:00 a.m. Eastern Time. To participate on ... The conference ID is 94093362. ...
(Date:10/10/2017)... 2017  NDS received FDA 510(k) clearance in May 2017 for ... stand specifically designed for endoscopy environments. An innovative secondary monitor solution, ... solution to support the improvement of patient outcomes, procedural efficiency, and ... ... ...
(Date:10/4/2017)... to the Centers for Disease Control and Prevention (CDC), influenza vaccination ... is helping communities across Massachusetts , Connecticut ... flu shots through the end of the month. *Some exclusions ... ... shot is by the end of October, according to the Centers for ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ProVest Insurance Group, ... Dallas, Miami, and Raleigh regions, is organizing an extended charity drive to benefit ... deadly chromosome abnormality. , After struggling since birth with several health challenges, T.J. ...
(Date:10/13/2017)... LEXINGTON, Ky. (PRWEB) , ... October 13, 2017 , ... ... MD, MPH to become its next President and Chief Executive Officer, succeeding Dr. James ... and CEO Elect beginning July 1, 2018 until Dr. Puffer’s retirement at the end ...
(Date:10/13/2017)... ... October 13, 2017 , ... Lori R. Somekh, founder of the ... national organization of elder law and special needs planning attorneys. “Membership in ElderCounsel helps ... provides a forum to network with elder law attorneys nationwide,” said Somekh. , ...
(Date:10/13/2017)... New York, NY (PRWEB) , ... October 13, 2017 , ... ... most influential people in business to advocate for action towards gender equality at their ... 18,000 views from around the globe, and reached a social audience of over 3 ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... ... DevOps and Agile Software Development, has been awarded a contract by the Center ... Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies in ...
Breaking Medicine News(10 mins):