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CPRIT recommends nine company awards — staff negotiate royalties and possible equity arrangements
Summary
CPRIT's product development committee recommended funding nine companies after rank ordering 14 full applications; staff negotiated the funded amount down to about $67 million and discussed standard contract revenue‑sharing (attachment D), royalty tails and limited equity-taking options.
The Cancer Prevention and Research Institute of Texas oversight committee approved a product development slate recommending awards to nine companies, with staff estimating a negotiated total of about $67,000,000. The PDRC reduced a larger set of full applications (14) to nine recipients recommended for award after peer review and due diligence.
Doctor Ken Smith summarized the applicant mix and briefly described each company’s proposed use of funds: therapeutics and biologics (Iterion, Crossbridge Bio, Immunogenesis,…
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