Sentinel Oncology awarded Biomedical Catalyst funding to develop cancer drug
Sentinel Oncology is pleased to announce that it was recently awarded an Early Stage grant as part of the government-backed Biomedical Catalyst funding initiative.
The award of £1.8m will help fund the development of new a drug to treat pancreatic cancer and ultimately achieve the aim of building a sustainable pipeline of products, growing the company to accommodate new drug discovery projects and ultimately discovering more new cancer drugs.
Bob Boyle, CEO of Sentinel Oncology said 'This type award is precisely what is needed to help UK companies compete on the global stage by bridging the "valley of death" so often encountered at this stage of drug development. With funding from the Biomedical Catalyst we will be able to complete our pre-clinical studies and file for IND status ready for clinical trials. The Sentinel Oncology business model of returning value to the company through partnerships with pharma at this stage is poised to enter a self sustaining phase where we expect the value of our pipeline to increase further."
The Biomedical Catalyst, announced by Prime Minister David Cameron in December 2011, is a £180 million programme of public funding designed to deliver growth to the UK life sciences sector. Delivered jointly by the Medical Research Council and the Technology Strategy Board, the Biomedical Catalyst provides responsive and effective support for the best life science opportunities arising in the UK.