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PRESS RELEASE BioTarget to establish research, development facility
at University of Kansas Medical Center BioTarget, a Nebraska-based drug company specializing in cancer treatments, will lease space for a new research and development facility on the University of Kansas Medical Center campus, creating 13 new jobs and $1 million in capital investment, officials announced today. The 1,100 square foot facility will be housed in the Kansas City Biotechnology Development Center and allow BioTarget to partner with KU Medical Center for in vivo diagnostic preclinical studies of encapsulated biomaterials to identify and characterize cancer biomarkers for in vitro diagnostic applications. BioTarget will work primarily with the University of Kansas Cancer Center’s Office of Therapeutics, Discovery and Development on these studies. The facility is scheduled to open in spring 2009. The 13 new employees will be phased in over three years. A combination of financial and technical assistance for the project was provided by the Kansas Department of Commerce, KU Medical Center and the Kansas Bioscience Authority. The Wyandotte Economic Development Council and Kansas City Area Development Council provided additional technical support. "This partnership is expected to generate novel diagnostic and delivery systems and accelerate the commercialization of nanomaterials for in vitro and in vivo diagnostics in oncology and other medical fields," said Luis Nunez, Chief Science Officer for BioTarget. "We're excited for the chance to work with the University of Kansas, and we appreciate the support of the various economic development groups that helped make this project possible." BioTarget was formed to commercialize an advanced innovation in biomaterial encapsulation technology, which can be used to significantly improve the sensitivity, functionality, efficiency and cost of in vitro diagnostic testing; provide a highly flexible and controllable system for targeted in vivo imaging contrast agents; and provide a revolutionary improvement in delivery systems for therapeutic drugs, having demonstrated the ability to deliver pharmacological agents to targeted cells and proteins, chemotherapy, DNA, and molecular inhibitors to targeted cell nuclei. "We’re glad to help BioTarget establish this new research and development facility at the University of Kansas," said Kansas Department of Commerce Secretary David Kerr. "BioTarget is a cutting-edge company that's doing some great things in cancer research and treatment, and we're excited for the company to join our state’s world-renowned bioscience cluster." "Cancer is the number one priority at the University of Kansas, and the work that BioTarget is doing is in line with our efforts to achieve National Cancer Institute designation as a Cancer Center," said Paul Terranova, PhD, vice chancellor for research at KU Medical Center. "We are glad that BioTarget has recognized our strength in research and, particularly, in cancer drug development and decided to partner with us here in Kansas." "This is great example of the intellectual capacity of KU being used to draw investment and jobs to Kansas City,” said Bob Marcusse, president and CEO of the Kansas City Area Development Council. "The Wyandotte Economic Development Council works strongly with one of our greatest assets and investors, KU Medical Center, to promote the development of the Kansas City Biotechnology Development Center and the continued growth of available space at the campus in Wyandotte County," said Brent Miles, director of the Wyandotte Economic Development Council. For more information, contact: Joe Monaco Amy Jordan Wooden ### |
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