Johns Hopkins startup gets funding from company turning research into businesses - Technical.ly Baltimore

Business

May 15, 2018 12:45 pm

Johns Hopkins startup gets funding from company turning research into businesses

The first JHU company to receive funding from IP Group is Lorem Therapeutics, a startup looking to develop new cancer treatments.

Inside Johns Hopkins' FastForward 1812.

(Photo by Stephen Babcock)

A company that works to turn intellectual property into businesses is backing a new Johns Hopkins startup developing therapeutics to treat cancer.

IP Groupwhich works with a group of universities and government labs including Hopkins, is providing funding to Lorem Therapeutics. The company is led by Barbara Slusher, a Johns Hopkins School of Medicine professor who directs the university’s largest drug discovery program. It’s the first company to receive funding from the company, though the amount was not disclosed.

Lorem Therapeutics is focusing on development early stage therapeutics in the phase between initial drug discovery and when a treatment begins review by the FDA for status as an Investigational New Drug. The company will use the funding “to accelerate and enhance our drug discovery efforts around critical cancer indications,” Slusher said in a statement.

IP Group has a partnership with Johns Hopkins to identify scientific research at the university that could be turned into businesses. Through the partnership, IP Group provides expertise on building a business and scientific insight, along with capital.

IP Group is committed to supporting scientific discovery and is thrilled to work with Dr. Slusher,” IP Group CEO Michael Burychka said in a statement. “We look forward to building upon our relationship with Johns Hopkins and continuing to invest in novel science being developed at the university.”

Lorem Therapeutics is also receiving support from FastForward, Johns Hopkins Tech Ventures’ incubator program that provides space and resources for startups.

The partnership with IP Group is the second recent sign of the university working with an outside entity to identify commercially promising research. The university also established a joint venture with investment firm Deerfield Management that is looking to fund new startups developing therapeutics.

-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

Following Boston accelerator, Pinkaloo launches charitable giving pilot with Eastern Bank

This Annapolis fintech startup wants to make it easier for banks to work with cannabis businesses

How law firm Nemphos Braue is guiding startups along the new business learning curve

SPONSORED

Baltimore

How law firm Nemphos Braue is guiding startups along the new business learning curve

Baltimore, MD 21201

14 West

Junior Database Administrator

Apply Now
Baltimore, MD

SmartLogic

Account Executive (Baltimore)

Apply Now
Baltimore

SchoolDuels

Vice President of Business Development

Apply Now

Hungry Harvest merges with North Carolina-based ugly produce delivery company

5 questions with Josh Budman: Applying neural networks in medical imaging at Tissue Analytics

BlueRidge.AI raises $1.9M to bring machine learning to factory floors

SPONSORED

Baltimore

Building a data acquisition system? Don’t make this mistake

Baltimore

emocha Mobile Health

Software Engineer

Apply Now
Baltimore

RackTop Systems

API Guru

Apply Now
Baltimore

Osmosis

Front End Developer

Apply Now

Sign-up for daily news updates from Technical.ly Baltimore

Do NOT follow this link or you will be banned from the site!