LANSING, Mich. (April 24, 2020) – Peptinovo Biopharma, LLC, a Michigan-based medical technology startup looking to revolutionize cancer treatment efficacy, will continue to advance its mission and work to improve chemotherapy outcomes for patients with support from a Business Accelerator Fund (BAF) award the company secured through LEAP’s regional SmartZone program.
“Now more than ever, LEAP is focused on mobilizing and leveraging our region’s assets to support advancements in the medical technology (medtech) realm,” said Tony Willis (left), vice president of entrepreneurship and innovation at LEAP. “As the local administrator for the state’s BAF program, LEAP is able to empower companies, like Peptinovo, to seek solutions to public health problems we face as a regional community and beyond.”
Founded in 2014 by Dr. Ren Homan, Ph.D. and Dr. Bill Elliot, Ph.D., Peptinovo is working to address the debilitating side effects of chemotherapy endured by many cancer patients. The company’s patented drug-delivery platform, Peptide-Amphiphile Lipid Micelle (PALM), reduces or eliminates one of the most serious side effects threatening outcomes for world-leading chemotherapy drugs. PALM works by helping redirect higher doses of chemotherapy drugs directly into tumors while keeping them away from other healthy tissues.
Peptinovo was approved for a $45,870 BAF award to fund laboratory testing for PALM, legal services and website development. Preliminary testing results will advance PALM through the next phase of testing and help the company gain interest from potential partners and investors.
“Creating an early stage pharma company is a huge chasm to cross, even when you have a promising and novel technology. This BAF award enables Peptinovo to conduct a critical dose tolerance study that early investor prospects seek before investing,” said Dr. Holman. “It is essential to confirming that Peptinovo’s nanoparticle technology works to reduce the side effects of chemotherapy while at the same time improving survival. We think Peptinovo will change the way chemotherapy works and this BAF will help pave the way.”
The BAF program is available to participating business accelerators, such as the Lansing Economic Area Partnership (LEAP), in Michigan’s statewide SmartZone network to help high-tech companies purchase specialized services that are not otherwise available through accelerators. For the past several years, LEAP has led the statewide SmartZone network in the number of BAF approvals and total amount distributed through the program.
The BAF program recently expanded eligibility criteria to aid in long-term response to the coronavirus crisis. Full details about the BAF program, including these new criteria, are available at www.purelansing.com/baf.
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About LEAP: The Lansing Economic Area Partnership (LEAP) is a coalition of area leaders partnering to build a stronger community for all—working every day to grow, retain and attract business to the Lansing, Michigan, region.
About the BAF Program: The BAF program is administered by the Michigan Small Business Development Center (SBDC) in partnership with the Michigan Economic Development Corporation (MEDC).
