National Cancer Institute awards grant to Receptor Logic for breast cancer research

www.receptorlogic.comSep 3 2009

Receptor Logic, Inc. announced today receipt of a Phase I Small Business Technology Transfer (STTR) Grant from the National Cancer Institute. The grant, entitled “Therapeutic Effectiveness of T-Cell Receptor mimic (TCRm™) Antibodies in Breast Cancer Treatment” will accelerate Investigational New Drug Application enabling studies surrounding lead candidate TCRm antibodies. Receptor Logic develops TCRm monoclonal antibodies (mAbs) that promise access to new patient populations in both oncology and infectious disease indications. They also provide a disruptive and expansive effect in the therapeutic mAb marketplace through new biomarkers that can be targeted for the elimination of diseased tissues.

The STTR grant will synergize with a U01 grant, “Discovery and Targeting of West Nile Virus Epitopes,” awarded this spring to the University of Oklahoma Health Sciences Center from the National Institutes of Allergy and Infectious Diseases, of which Receptor Logic is a major subcontractor. The U01 grant will support discovery of new disease-specific biomarkers associated with West Nile Virus infection using technology licensed by Pure Vaccine Solutions, L.L.C. The grant will also support development of novel T-Cell Receptor mimic antibody therapeutics created by Receptor Logic to treat viral infections.

These grants provide revenue potential of more than $1,300,000 over the next five years to Receptor Logic. “Grant funding is highly competitive, especially in this past year. The awards testify to Receptor Logic’s quality of scientific innovation, to merit funding from two different Institutes within the National Institutes of Health,” said Dr. Gregory Pogue, President of Receptor Logic. “The grants are further validation of our technology and support studies accelerating our lead candidates toward clinical testing."

Breast cancer accounts for >12% of all new cancer diagnoses and almost 10% of all cancer deaths in the United States.¹ Receptor Logic has developed TCRm antibodies as a new platform for mAb therapeutics that are remarkably effective in addressing cancer and pathogen infections. The mAb market represents the fastest growing segment in the pharmaceutical industry, generating $35 billion per year worldwide in 2008 revenue and is expected to grow at a >10% CAGR through 2013.

Receptor Logic is headquartered in Abilene, Texas. The Development Corporation of Abilene (DCOA) and the DevelopAbilene Team, a consortium of Abilene economic development partners, offers a framework of support for SBIR/STTR research conducted primarily in Abilene. Companies may receive up to $5,000 for application preparation. For Phase 1 awards such as Receptor Logic has received from the National Cancer Institute, the DCOA matches grants at 10%, not to exceed $10,000. Accordingly, the DCOA has given Receptor Logic $10,000 as an incentive payment for funds received through the STTR award. Phase 2 SBIR/STTR grants are matched at 10%, not to exceed $75,000.

DCOA Chief Executive Officer Richard Burdine said, “Our strategy is to bolster Abilene-based life sciences companies by providing additional funding that is not subject to the use limitations of a federally-funded grant and acts as a catalyst for more rapid business growth.”