The grant will support research for PineTree Therapeutics' next-generation biotherapeutics development for the treatment of solid tumors.
CAMBRIDGE, Mass., Sept. 27, 2022 /PRNewswire/ -- PineTree Therapeutics and Professors Jason Evans and Nurit Haspel at University of Massachusetts Boston (UMB) have received capital funding this summer from the Massachusetts Life Sciences Center (MLSC) Bits and Bytes program to accelerate the efforts of PineTree Therapeutics' next generation biotherapeutics development. The grant is part of over $2.5 Million that the state agency is distributing across four projects which seek to support scientific projects that generate/analyze large datasets to answer pressing life science questions, and to train data scientists in the Commonwealth.
"I am thrilled that PineTree Therapeutics has been selected to be one of the Bits and Bytes awardees as we were in competition for the grant with top global biotech and pharmaceutical companies this year,'' said Sung Hugh Choi, Director of PineTree Therapeutics. "Recent advances in large data science, machine-learning, and artificial intelligence have changed the paradigm of drug discovery. This collaborative research will potentially achieve breakthrough discovery through ideas and methods that have never been seen or tried before. It will ultimately support our next generation biotherapeutic drug development to address highly unmet medical needs in cancer and other diseases. I hope it will eventually be helpful to humankind".
PineTree Therapeutics, Inc., an emerging leader in pioneering the development of disruptive therapies in Oncology, Immuno-Oncology, and other diseases, recently announced that the company raised $23.5 Million for Series A1 funding. The company has developed a highly differentiated target protein degradation platform to solve difficult-to-treat diseases, which require innovative approaches to deliver a new paradigm on providing real and meaningful benefits for patients. The company strongly believes that the Bits and Bytes grant-supporting study will bring a breakthrough pipeline platform that could be an additional and powerful engine for the company's continuous growth.
The MLSC is an economic development and investment agency with a mission of supporting the growth and development of the life sciences in Massachusetts. Through public-private funding initiatives, the MLSC supports innovation, research and development, commercialization, and manufacturing activities in the fields of biopharma, medical device, diagnostics, and digital health.
Sung Hugh Choi
Director of Biology & Strategic Alliance
SOURCE PineTree Therapeutics