A cancer research company co-founded by a Michigan State University professor was acquired by the New York biotechnology firm Lodo Therapeutics Corp. in a move that holds potential for the development of innovative drugs that treat cancerous tumors.
The acquisition of Hibiskus BioPharma was announced Sept. 3. Co-founded by André Bachmann of MSU's College of Human Medicine and MichaelPirrung of the University of California, Riverside, the company was established with support from Spartan Innovations and Red Cedar Ventures, both wholly owned subsidies of the MSU Foundation.
Bachmann, a pediatrics professor and associate chair for research in the College of Human Medicine, and co-founder Pirrung, a distinguished chemistry professor and drug researcher at UCR, discovered selective proteasome and immunoproteasome inhibitors that could potentially play a role in the treatment of a number of solid tumor cancers, based on preclinical studies conducted at MSU and the National Cancer Institute (NCI).
“Despite recent advances, far too many cancers remain poorly treated,” Bachmann said. “We are delighted that the experienced and committed team at Lodo will now be overseeing their preclinical and clinical development.”
Read more in the Innovation Center's newsroom.