BioMarker Strategies, LLC announced today that it has been awarded a Fast-Track Small Business Innovation Research (SBIR) contract from the National Cancer Institute to develop the SnapPath™ live-tumor-cell testing system. BioMarker Strategies is developing the SnapPath™ system to enable oncologists to determine the most effective drug treatment for their cancer patients. Under this contract, the company will receive an initial award of $254,000 and be eligible to receive an additional $2 million when the first phase of work is completed—for a total potential contract amount of $2.3 million.
“We are gratified by this award from the NCI to support the development of our SnapPath™ technology and plan to use these funds to expedite production of a prototype of our live-tumor-cell testing system,” said Kären Olson, CEO of BioMarker Strategies.
BioMarker Strategies was awarded this funding under NCI contract opportunity #257, Biopsy Instruments and Devices that Preserve the Molecular Profiles in Tumors, designed to identify “innovative approaches for tumor biopsy that preserve the molecular profile (that) will create an entirely new diagnostic area and market in molecular therapeutics, which will not only facilitate pharmacodynamic assessment of targeted therapeutics but also enable individualized molecular therapy of solid tumors based on accurate information about signal transduction pathways, molecular drug targets and biomarkers.” (see NCI contract announcement #257/PHS-01-2009).
In addition to SnapPath™, BioMarker Strategies is developing a series of functional, pathway-based, ex vivo biomarker tests to help guide the use of targeted cancer therapeutics. The company recently raised approximately $1.7 million from private investors, including the Abell Foundation, to support the development of the SnapPath™ system. BioMarker’s facilities are located at the Johns Hopkins Science + Technology Park in East Baltimore. For more information about BioMarker Strategies, please go to www.biomarkerstrategies.com.
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