Celdara Medical wins $1.7M Fast Track SBIR grant
Kicking off 2015 with an acquisition, followed up by a Tibbetts Award and most recently a $1.7M NIH grant, Celdara Medical has been on our radar all year long. We recently received news that Celdara Medical won a $1.7M Fast Track Small Business Innovation Research grant from the National Heart Lung and Blood Institute of the NIH.
Celdara’s Chimeric Antigen Receptor (CAR) technology developed by OnCyte uses human Natural Killer cell (NK cell) receptors which, unlike traditional CAR technologies, have the potential to target a broad range of liquid and solid cancers via a human natural receptor that targets ligands present on most tumor types.
Does the name seem familiar to you? That’s because we have written about Celdara several times already this year. To recap, January marked Cardio3 BioSciences' acquisition of OnCyte, LLC - Celdara’s portfolio of immune-oncology CAR T-cell product candidates - for an upfront payment in cash and stock, and tiered royalties on sales. Celdara Medical and OnCyte will continue to collaborate under a five year sponsored research agreement.
Celdara Medical also received the prestigious Tibbetts Award from the SBIR program, in recognition of their innovation’s exceptional potential for commercialization and visible socio-economic impact. The impact that Life Science startups like Celdara are able to make on an already saturated and established field is important to the future of the healthcare industry. This is what John Williams, the Director of Innovation and Technology in the Office of Investment and Innovation at the Small Business Administration, referred to when he said about the company’s Tibbets Award, “[Celdara Medical’s] outstanding work has contributed greatly to the success of the SBIR program.”
With the T-Cell Immunotherapy market expected to grow to $30B by 2030, we’re keeping our eyes on Celdara Medical.