Tech Transfer eNews Blog

Arizona State start-up uses engineered virus to develop cancer treatments


By Jesse Schwartz
Published: February 12th, 2020

A start-up from Arizona State University (ASU) is developing immunotherapies based on an engineered virus to treat cancer.

OncoMyx Therapeutics is building on the work of ASU professor Grant McFadden and his research team, who have designed an oncolytic virus to specifically kill cancer cells without harming normal cells. The start-up recently licensed the technology from the university’s tech transfer arm, Skysong Innovations.

“Professor McFadden and his collaborators have developed a robust oncolytic virus technology, supported by preclinical and clinical research, that we believe could be a new pillar of cancer care,” says Steve Potts, co-founder and CEO of OncoMyx.

“Completing this licensing agreement is an important milestone for advancing this technology into new, potentially life-saving treatments for cancer,” adds Potts. “It was great to work with the Skysong Innovations team on this licensing, because they understand not just the patent portfolio, but what an inventor and entrepreneur needs to spin out a company and reach the next level.”

Last year, OncoMyx completed a $25 million Series A funding round, the most money ever raised by an ASU start-up in its initial funding round. The company is using the proceeds to further develop its immunotherapies for human clinical trials.

“OncoMyx has the potential to become the best-in-class oncolytic virus approach for treating a wide range of cancers,” says Augie Cheng, CEO of Skysong Innovations. “The company has tremendous IP, experienced leadership, and funding commensurate with the technology’s promise. They are a true shining star in the Arizona biotech startup scene.”

Source: Cision

Posted under: Tech Transfer e-News

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