Dialectic Therapeutics Receives $3 Million Seed Award for Product Development Research from the Cancer Prevention & Research Institute of Texas
DALLAS, Feb. 26, 2020 /PRNewswire/ -- Dialectic Therapeutics, Inc., a Texas-based biotechnology company focused on creating innovative new technologies to end cancer, today announced it has received a $3 million Seed Award for Product Development Research from the Cancer Prevention & Research Institute of Texas (CPRIT).
Dialectic will use the funding from the CPRIT Seed Award to further the development of its lead product candidate, DT2216, a unique compound built using its proprietary and novel Antiapoptotic Protein Targeted Degradation (APTaD™) technology. In pre-clinical studies, DT2216 selectively induces cancer cells to degrade B-cell lymphoma extra large, or BCL-XL, stimulating the cells to commit suicide or become more susceptible to chemotherapy. DT2216 is currently in the IND-enabling phase for use as a single agent or as part of a combination therapy in hematologic cancers.
"We are honored and delighted to have received this Seed Award from CPRIT and the state of Texas, and it significantly advances our effort to develop novel drug candidates that address a significant need in cancer treatment. This grant will give us the opportunity to reach clinical relevance faster," said Dr. David Genecov, Dialectic's President and Chief Executive Officer. "The CPRIT funding will support continued development of our lead candidate, DT2216, which we believe may be a first-in-class anticancer agent targeting BCL-XL, the most commonly over-expressed antiapoptotic protein in cancer."
About Dialectic Therapeutics
Dialectic Therapeutics is a biotechnology company focused on creating innovative new technologies to end cancer. Our goal is to relieve the suffering of patients with cancer and prolong their productive lives through targeted therapies with limited toxicities and complications. Based in Dallas, TX, Dialectic Therapeutics has research partners and facilities at UT Health San Antonio and University of Florida Health. Biotech venture investors John D. Harkey, Jr. and Dr. David Genecov capitalized the Company in 2018 and are co-founders along with Dr. Robert Hromas, Dean of the Long School of Medicine at UT Health San Antonio, Dr. Daohong Zhou at University of Florida Health Cancer Center, and Dr. Guangrong Zheng at University of Florida College of Pharmacy.
For more information regarding Dialectic Therapeutics, please visit www.dtsciences.com.
About the Cancer Prevention Research Institute of Texas
To date, CPRIT has awarded $2.49 billion in grants to Texas research institutions and organizations through its academic research, prevention, and product development research programs. CPRIT has recruited 200 distinguished researchers, supported the establishment, expansion or relocation of 40 companies to Texas, and generated over $4.7 billion in additional public and private investment. CPRIT funding has advanced scientific and clinical knowledge and provided 6.2 million life-saving cancer prevention and early detection services reaching Texans from all 254 counties. On November 5, 2019, Texas voters overwhelmingly approved a constitutional amendment to provide an additional $3 billion to CPRIT for a total $6 billion investment in cancer research and prevention.
For more information regarding CPRIT, please visit www.cprit.texas.gov.
Dialectic Therapeutics Contact:
Josh Sills, VP of Operations
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SOURCE Dialectic Therapeutics, Inc.