Helix Energy Solutions Group: UP Oncolytics Advances Cancer Therapy with New Funding and Leadership
- UP Oncolytics expands research by moving into advanced labs at Helix 51, enhancing collaboration and innovation in cancer therapy.
- Strategic board appointments, including RFU's Michael Rosen, strengthen UP Oncolytics' leadership in oncology research and development.
- The FDA granted Orphan Drug designation to UP Oncolytics for its glioma-targeting oncolytic virus therapy, validating its advancements.
UP Oncolytics Secures Funding for Innovative Cancer Therapy Development
UP Oncolytics, a Milwaukee-based biotechnology firm specializing in neuro-oncology, makes significant strides in the fight against brain cancer through recent funding initiatives. The company secures a $75,000 matching grant from the Wisconsin Economic Development Corporation (WEDC), which works in conjunction with the University of Wisconsin. This funding supplements a previous $500,000 Small Business Innovation Research (SBIR) Phase I Fast Track award from the National Institutes of Health (NIH). The financial backing aims to accelerate the preclinical development of UP Oncolytics' lead therapy, an oncolytic virus engineered specifically to target gliomas, the most prevalent form of brain cancer. With the possibility of extending its research into other cancer types, this funding represents a crucial step forward for the company and its mission to tackle aggressive tumors.
In early 2025, UP Oncolytics expands its research capabilities by moving into enhanced laboratories at Rosalind Franklin University's Helix 51 biomedical incubator. This facility is designed to promote collaboration among scientists and innovators, fostering an environment conducive to groundbreaking research. Under the leadership of Dr. Parvez Akhtar, the company is bolstered by the addition of key personnel, including Dr. Steven Markwell, who brings extensive expertise in glioblastoma and tumor microenvironment research. The recruitment of such seasoned specialists underlines UP Oncolytics' commitment to deepening its scientific knowledge and advancing its therapeutic offerings.
Moreover, the company strengthens its governance by welcoming Dr. Gary Gordon, a former oncologist with over 13 years of oncology development experience at AbbVie, to its board. Additionally, Michael Rosen, managing director of RFU's Innovation and Research Park and Helix 51, joins the board as an observer. These strategic appointments reflect UP Oncolytics' determination to enhance its leadership and strategic direction as it navigates the complexities of oncology research. Notably, the FDA granted Orphan Drug designation to UP Oncolytics for its oncolytic virus therapy targeting gliomas in the fourth quarter of 2024, further validating the company’s promising developments and commitment to improving patient outcomes.
As UP Oncolytics continues to make progress in research and leadership, its innovative approach to cancer therapy positions it as a noteworthy player in the biotechnology sector focused on treating challenging malignancies. The recent funding and strategic hires may pave the way for pivotal advancements in the treatment of gliomas and potentially expand the company's impact to other cancer types in the future.
