Receptor Logic Receives $2 M
June 20, 2008
Secretary of State Phil Wilson announced two new Texas Emerging Technology Fund (TETF) investments during the 2008 BIO International Convention. These investments, totaling $3.7 million, were awarded to Receptor Logic, Ltd. of Abilene and Terapio Corp. of Austin.
“The Texas Emerging Technology Fund was created with the objective to revolutionize our state’s technology industries to improve the lives of Texas through new medical breakthroughs and scientific research,” stated Wilson. “The investments made today in these two biotech entities will drive us even farther in surpassing our goals and position Texas as a stronger leader in the economy of tomorrow.”
Receptor Logic, Ltd., of Abilene, will receive $2 million Commercialization Award to advance efforts in the “creation of antibodies through their T Cell Receptor mimi (TCRm™) technology.” By offering valuable insight into the interaction between the immune system and diseased cells, these TCRm’s will be able to yield better immunology research, more effective clinical diagnostics, and therapies including monoclonal antibodies and vaccines.
Another $1.7 million Commercialization Award was awarded to Terapio Corp., of Austin, to further research, development, and commercialization of a cream treatment for “Hand-Foot Syndrome.” This topical cream is designed to prevent and treat this side effect of several common chemotherapy drugs used in the treatment of breast, colon, and ovarian cancers. The first in the market, this treatment designed by Terapio will provide “a relatively inexpensive, easy-to-use, and safe therapy for patients undergoing chemotherapy.”
“Texas is a national leader in biotechnology thanks to incentives like the Texas Emerging Technology Fund,” said Gov. Rick Perry. “Today’s awards will contribute to valuable advances in medical technology, help improve Texan’s quality of life and maintain our state’s strong, diversified economy.”
For more information on the TETF, please visit www.emergingtechfund.com.
