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January 6, 2006
Kinex Receives Grant from the Center for Advanced Technology in Biomedical and Bioengineering
Kinex Pharmaceuticals has received a grant from The University at Buffalo (UB) CAT. This organization is part of NYSTAR (New York State Office of Science, technology and Academic Research)and it focuses on biomedical and bioengineering translational research for development of useful products with commercial potential. By accelerating science transfer, the UB CAT helps foster the creation of new biotech start-up companies and help existing biomedical businesses expand through new or improved product lines.
Kinex has been approved to receive matching funds that will be applied to its ongoing development of a new cancer drug as well as other internal research programs focused on new drug development. Funding is likely to exceed $200,000.
Programs developed by the CAT include matching grants for mid-to-late stage development of drugs, biologics, diagnostics, devices, services, or other related products with commercial potential. The UB CAT will also offer assistance in core technologies building on the facilities, faculty and expertise available in Buffalo Niagara at UB and collaborating academic institutions in Western New York. It also offers educational programs and business development assistance, often in partnership with programs at our academic institutions and affiliated organizations. Kinex CEO Allen Barnett said, “The assistance we are receiving from NYSTAR and the UB CAT clearly demonstrates their commitment to assist companies that are developing new technologies in the Life Sciences”.