Neoantigenics Investment helps GAP Fund Reach Milestone
Friday, April 11, 2014
The Center for Innovative Technology (CIT) GAP Funds’ portfolio reached 100 companies with an investment in Neoantigenics, a University of Virginia spin-out and Charlottesville-based biotech company that is developing a targeted treatment for cancer.
Neoantigenics was established in July 2012 to advance the research and development of novel research findings of Dr. John Herr on oocyte proteomics. Neoantigenics holds an exclusive license from U.Va. Licensing & Ventures Group to the intellectual property of Herr on oocyte-associated biomarkers in the cancer field. The company is actively advancing both monoclonal antibody agents to these biomarkers, as well as molecular diagnostic assays for precision, personalized medicine. Earlier this year, it announced a partnership and investment from Pfizer, Inc.
“The investment from CIT GAP Funds will help us advance to defining an antibody drug agent for pre-clinical development,” said Neoantigenics CEO Dr. Brian Pollok
CIT Board of Directors Chairman David Lucien said, “With investments in innovative technology startups like Neoantigenics, the CIT GAP Funds are creating new opportunities for Virginia’s entrepreneurs. This 100th investment is not only an important milestone for CIT; it also demonstrates a vibrant pipeline of innovative companies and entrepreneurs who are building our innovation economy.”