ADVERTISEMENT
Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

Dialectic Therapeutics Receives $14.4 Million Texas Company Product Development Research Award from the Cancer Prevention & Research Institute of Texas

August 20, 2021 GMT

DALLAS, Aug. 20, 2021 /PRNewswire/ -- Dialectic Therapeutics, Inc. (Dialectic®), a Texas-based clinical stage biotechnology company focused on creating innovative new technologies to treat cancer, today announced it has received a $14.4 million Texas Company (TXCO) Product Development Research Award from the Cancer Prevention & Research Institute of Texas (CPRIT). Dialectic will use the funding from this grant award to further advance the clinical development of its lead product candidate, DT2216, a unique compound built using its proprietary and novel Antiapoptotic Protein Targeted Degradation (APTaD™) technology platform.

This grant adds to the initial $3 million Seed Award that Dialectic received from CPRIT in 2020, which was instrumental in supporting preclinical studies. These studies demonstrate that DT2216 selectively induces the degradation of B-cell lymphoma extra-large, or BCL-XL, in cancer cells and either stimulates the return of cellular apoptosis or sensitizes the cells to be more susceptible to chemotherapy, and thus cellular destruction.

ADVERTISEMENT

“We are honored to have received this TXCO Award from CPRIT and the state of Texas and are grateful for their continued support of Dialectic. This award will support the further development of our lead candidate, DT2216, including conducting a first-in-human phase 1 dose escalation study, initiating phase 2 studies and continued development of our chemistry, manufacturing and controls” said Dr. David Genecov, Dialectic’s President and Chief Executive Officer. “This financial support advances our primary goal of reaching cancer patients faster with a potential first-in-class anticancer agent targeting BCL-XL, the most commonly over-expressed antiapoptotic protein in cancer.”

“We are pleased to support Dialectic Therapeutics in the development of their exciting, novel cancer cell degrader technology” said Dr. Cindy WalkerPeach, CPRIT’s Chief Product Development Officer, “we’re equally pleased that Dialectic is CPRIT’s first SEED awardee to successfully compete for a CPRIT TXCO award.”

ADVERTISEMENT

About Dialectic Therapeutics
Dialectic is a Texas-based clinical stage biotechnology company focused on creating innovative new technologies to treat cancer. Our goal is to relieve the suffering of patients with cancer and prolong their productive lives through targeted therapies with limited toxicities and complications. Based in Dallas, Texas, Dialectic has research partners and facilities at UT Health San Antonio and University of Florida Health. Biotech venture investors John D. Harkey, Jr. and Dr. David Genecov capitalized the Company in 2018 and are co-founders along with Dr. Robert Hromas, Dean of the Long School of Medicine at UT Health San Antonio, Dr. Daohong Zhou at University of Florida Health Cancer Center, and Dr. Guangrong Zheng at University of Florida College of Pharmacy. Dialectic has also been supported to date through a Seed Award for Product Development Research from CPRIT.

For more information regarding Dialectic, please visit www.dtsciences.com.

Dialectic is a registered trademark of Dialectic Therapeutics, Inc.

About the Cancer Prevention & Research Institute of Texas
To date, CPRIT has awarded $2.9 billion in grants to Texas research institutions and organizations through its academic research, prevention and product development research programs. CPRIT has recruited 237 distinguished researchers, supported the establishment, expansion or relocation of 43 companies to Texas and generated over $5.7 billion in additional public and private investment. CPRIT funding has advanced scientific and clinical knowledge and provided 7.4 million life-saving cancer prevention and early detection services reaching Texans from all 254 counties. On November 5, 2019, Texas voters overwhelmingly approved a constitutional amendment to provide an additional $3 billion to CPRIT for a total $6 billion investment in cancer research and prevention. Learn more at https://cprit.texas.gov/

Contact:
Joshua Sills, EVP of Operations
email: info@dtsciences.com

View original content: https://www.prnewswire.com/news-releases/dialectic-therapeutics-receives-14-4-million-texas-company-product-development-research-award-from-the-cancer-prevention--research-institute-of-texas-301359391.html

SOURCE Dialectic Therapeutics