Plus Therapeutics Awarded $17.6 Million from State of Texas
Plus Therapeutics, Inc. has recently announced it has been awarded a $17.6 million Product Development Research grant by the Cancer Prevention and Research Institute of Texas (CPRIT). This grant will help fund the continued development of their lead investigational targeted radiotherapeutic, Rhenium-186 NanoLiposome (186RNL), for the treatment of patients with leptomeningeal metastases (LM).
This clinical-stage pharmaceutical company has focused their expertise on developing innovative, targeted radiotherapeutics for rare and difficult-to-treat cancers. LM is one of the most devastating and aggressive late-stage cancer complications. It’s this complication that characterizes the primary cancer spreading to the central nervous system. With promising results from Plus Therapeutics, the FDA has granted Fast Track designation to 186RNL for the treatment of LM.
“The Plus team is honored to receive this significant and esteemed award from CPRIT,” said Marc H. Hedrick M.D., President and Chief Executive Officer of Plus Therapeutics. “We expect that the non-dilutive funding from CPRIT will come on-line next month once the award agreement is finalized and this will significantly offset our longer-term, three-year capital requirements for the advancement of our LM program.”
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
