Modulation Therapeutics, Inc. has been awarded a $156,202 Phase 1 SBIR grant from the National Cancer Institute. Modulation Therapeutics is part of the Tampa Bay Technology Incubator (TBTI), part of USF CONNECT at the USF Research Park in Tampa.
Modulation Therapeutics is an early-stage biotech company that develops therapeutics targeting cell adhesion receptors for cancer treatments. The company licenses MTI-101, a compound that binds to the cell adhesion molecule CD44 to disrupt tumors from homing to the bone, from Moffitt Cancer Center.
“The funding will help to support the cost of preclinical studies needed to reach an investigational new drug application for MT-101,” said Dr. Mark McLaughlin, senior member of the drug discovery department at Moffitt. “MT-101 is our lead candidate for treatment of relapsed/refractory multiple myeloma.”
Previous awards, including a $500,000 Biotech Investment Award from Multiple Myeloma Research Foundation, have been pivotal in facilitating the advancement of the MTI-101 compound into clinical trials for multiple myeloma, according to McLaughlin.
The company, which joined the TBTI earlier this year, was founded in 2011 by University of South Florida faculty members and Moffitt Cancer Center researchers McLaughlin and Dr. Lori Hazlehurst, associate member of molecular oncology.
“This grant funding helps to support our efforts to measure the pharmacokinetics of MT-101, the chemical optimization of the pharmacokinetics properties of MT-101 analogs, and in vivo testing of any analogs of MT-101 with optimized PK characteristics,” said McLaughlin.