Jan 27, 2016
Company developing pharmaceuticals to treat the most difficult cancers
BioGenerator, an evergreen investor that creates, grows and invests in promising companies and entrepreneurs, has led a $625,000 investment round in Accuronix Therapeutics, a biotech company developing breakthrough treatments for the most difficult types of cancer.
Accuronix was established based on technologies developed at Washington University in St. Louis by Dr. William Hawkins, Professor of Surgery, and his collaborator, Dr. Robert Mach, Professor of Radiology at University of Pennsylvania. With a particular focus in pancreatic cancer, the company’s mission is to develop novel oncology therapies founded on technology that selectively targets overexpressed receptors on cancer cells.
“I was first introduced to Dr. Hawkins and his technology through my work as an Entrepreneur in Residence at BioGenerator and through the Bear Cub competition at Washington University,” explained Dennis Schafer, CEO of Accuronix. “I sensed immediately that it was very promising technology, supported by human data for multiple solid tumor types, and I began working with Dr. Hawkins to start Accuronix shortly after he won a Bear Cub award in 2014.”
“As a pancreatic cancer surgeon, I know patients need a new treatment that works on the more resistant and advanced models of disease,” said Dr. Bill Hawkins, Accuronix scientific co-founder. “I’m excited by the progress Accuronix and our research has made so far.”
Accuronix is led by an impressive team with decades of experience in therapeutics and startup company development. Hawkins holds the position of Neidorff Family and Robert C. Packman Professor of Surgery and Chief, Section of Hepatobiliary-Pancreatic and Gastrointestinal Surgery, Washington University School of Medicine and is a leader in pancreatic cancer surgery. Mach is now the Britton Chance Professor of Radiology at the University of Pennsylvania. Schafer is an experienced entrepreneur with over 25 years experience managing new life science ventures and has held leadership roles in 12 startups. The team also includes Dr. Linda Law as CMO, a veteran of the pharmaceutical and biotechnology industries with extensive experience both in clinical development and business development.
BioGenerator has played a large role in the company’s development, not only leading this current round of funding, but also providing Concept Fund dollars. Accuronix is also a client at the BioGenerator Labs and Charlie Bolten, vice president of BioGenerator is a member of the company’s board.
Additional investors include Missouri Technology Corporation and private investors. The funds will be used to advance preclinical activities in their lead oncology therapy.
BioGenerator produces a sustained pipeline of successful bioscience companies and entrepreneurs in St. Louis by creating, growing and investing in promising new enterprises. and cultivating a thriving bioscience sector, building regional capacity to capitalize on St. Louis’ world class medical and plant biosciences. Please visit www.BioGenerator.org for additional information. Follow BioGenerator on LinkedIn linkedin.com/company/BioGenerator and Twitter @BioGeneratorSTL.