Actinobac Biomed Founder Receives Two Awards For Promising New Drug
NEW BRUNSWICK, N.J., Nov. 7, 2013 /PRNewswire-USNewswire/ -- Scott Kachlany, PhD, founder of Actinobac Biomed, Inc., has received a Thomas Edison Patent of the Year Award from the Research and Development Council of New Jersey and an Innovators Award from the New Jersey Inventors Hall of Fame for his renowned research in discovering new agents in the treatment of leukemias.
Dr. Kachlany, an associate professor of oral biology, microbiology and molecular genetics at Rutgers Dental School of Medicine, discovered the therapeutic uses of Leukothera® during the course of his research at the dental school. His company, Actinobac Biomed, was originally funded with a $500,000 investment in 2009 from Foundation Venture Capital Group (FVCG), LLC., which invested an additional $100,000 in Actinobac in 2013 to help advance its research.
Leukothera® is being tested as a treatment for hematologic malignancies (leukemias & lymphomas), latent infections (HIV/AIDS & tuberculosis) and autoimmune diseases (rheumatoid arthritis, multiple sclerosis, Crohn's disease, type 1 diabetes, Lupus & psoriasis).
"We are gratified that others recognize the exciting potential in Dr. Kachlany's work," said George F. Heinrich, M.D., vice chair and CEO of Foundation Venture Capital Group, "and we join the Research and Development Council of New Jersey and the New Jersey Inventors Hall of Fame in acknowledging the importance of his work."
Leukothera® specifically targets and depletes disease related white blood cells (WBC). In laboratory studies to date, malignant and proinflammatory white blood cells have been determined to be more sensitive to Leukothera® than normal white blood cells. Animal studies carried out by Actinobac have shown Leukothera® to possess significant therapeutic activity.
About Foundation Venture Capital Group
Foundation Venture Capital Group, LLC, (www.foundationventure.com) invests in life science start-up companies in New Jersey that want to move their products and ideas to commercialization. FVCG portfolio companies currently include:
- Actinobac Biomed Inc., developing a therapeutic agent targeting blood cells for the treatment of hematological malignancies such as leukemia and lymphomas;
- Affineti Biologics, Inc., advancing research in the development of therapeutic and diagnostic products based on new discoveries in oral biology and dental medicine;
- CellXplore, Inc., engaged in the development of biomarker-based in vitro diagnostic assays for cancer;
- Celvive, Inc., working to develop technology to treat patients with chronic spinal cord injuries with their own adult stem cells;
- Durin Technologies, working to develop a blood test to diagnose Alzheimer's, Parkinson's and other neurodegenerative diseases;
- GeneAssess, Inc., developing a diagnostic tool for more accurate breast cancer staging;
- Longevica Pharmaceuticals, Inc., developing a chemoprotective agent that may keep normal cells healthy during cancer treatments (FVCG's equity interest in Longevica was sold to Rostock International, LTD, a subsidiary of a Moscow (Russia) based global investment firm);
- MentiNova, Inc., working to reduce side effects of L-Dopa Induced Dyskinesia;
- NovoPedics, Inc., developing an implantable meniscus replacement/regeneration medical device to restore mobility to patients suffering from severe meniscus knee injuries;
- Snowdon Pharmaceuticals, Inc., a drug discovery company focused on several major therapeutic areas.
SOURCE Foundation Venture Capital Group