Biotechnology Research, Business, Education and Strategic Policy Non-Profit NCBiotech Awards Nearly $900,000 in Quarter

RESEARCH TRIANGLE PARK, N.C. -- The North Carolina Biotechnology Center awarded $885,586 in loans and grants the during the first quarter, July through September. The awards programs support life science entrepreneurship, technology commercialization and growth, and lay the groundwork for major add-on funding. In fact, the Center tracked more than $13 million in outside funding raised by previous loan recipients during the quarter. This quarter’s three Small Business Research Loans committed a total of $750,000 to fund research that advances small life science companies’ development of commercially viable technologies/products.

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Recipients are:

    Novocor Medical Systems, a Chapel Hill spinout of the joint biomedical engineering program of the University of North Carolina at Chapel Hill and North Carolina State University, received the loan to complete development and testing of its portable device for quickly chilling heart attack victims to reduce heart damage.

    KeraNetics, of Winston-Salem, is using its loan to upgrade facilities where the company will manufacture its products for skin care, wound healing and regenerative medicine.

    KinoDyn, of Chapel Hill, is using its loan to help develop its drugs to fight especially challenging cancers, including triple-negative breast cancer.

NCBiotech also made a $100,000 Economic Development Award to the Hoke County Economic Development Commission to help support job creation from a biofuels plant purchase by Tyton NC Biofuels LLC. Finally, the Center awarded more than $35,000 in meeting-related grants.

Read details of these awards in the full news release online.

NCBiotech is a private, non-profit corporation supported by the N.C. General Assembly. Its mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, business, education and strategic policy statewide.