ROCKVILLE, Md.–(BUSINESS WIRE)– Hibiscus BioVentures, a firm committed to building patient-focused companies around transformative technologies, today announced it has entered into a partnership agreement with the Detroit-based Barbara Ann Karmanos Cancer Institute (Karmanos). This partnership between Hibiscus’ venture studio, Hibiscus BioTechnology, and Karmanos seeks to leverage the combined resources of the two organizations to develop innovative therapeutics for the treatment of cancer. Karmanos is one of only 51 National Cancer Institute (NCI)-designated Comprehensive Cancer Centers in the country.
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“We are excited to advance this patient-centric approach by leveraging the highly-respected development resources at Karmanos,” said Chris Jeffers, CEO of Hibiscus BioTechnology. “As translational and clinical research partners, this collaboration is focused on combining programs, capabilities and infrastructure from Hibiscus Biotechnology’s Studio Companies with Karmanos’ vast clinical research and development resources to advance cancer therapies and address unmet patient needs.”
Hibiscus BioTechnology Studio Companies each have financial and executive guidance and operating support to advance a broad range of science and technology development programs and address unmet patient needs. The collaboration with Karmanos will bring emerging Hibiscus BioTechnology Studio Companies valuable clinical resources, including laboratory and research access, scientific and thought leadership, clinical development strategy and access to the robust network of Karmanos hospitals to more rapidly advance cancer care.
“Working with emerging companies to bring innovation into the clinic is critical to help drive new cancer therapies closer to patients,” said Elisabeth Heath, MD, FACP, associate center director of Translational Sciences and leader of the Genitourinary Oncology Multidisciplinary Team at Wayne State University and Barbara Ann Karmanos Cancer Institute. “We believe the combined resources and mission that Karmanos and Hibiscus share will bring new hope and new tools to cancer treatment.
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