11 Aug Platypus Tech fights cancer with $400,000 SBIR grant
MADISON — Platypus Technologies recently announced it received a Phase I small business innovation research (SBIR) grant for $400,000 from the National Cancer Institute.
The grant, according to chief executive officer Barbara Israel, is to develop a new method to rapidly measure the activity of enzymes that are relevant to cancer biology. Using a liquid crystal approach, Platypus proposed it could develop a way to quickly quantify enzyme activity that could, in turn, be incorporated into a new methodology to screen drugs and inhibit the activity.
SBIR grants, along with small business technology transfer (STTR) grants and advanced technology program (ATP) grants, are generally peer reviewed. Israel said the peer-reviewed nature of the grant is a validation of the technology.
“The peer review system validates the science that’s being proposed,” Israel said. “If you have been awarded a grant, not only did you come up with a good idea but other scientists were on the committee that would review the grant.”
She added this particular grant was scored extremely well.
Platypus Technologies, located in University Research Park, produces and markets nanotechnologies for the life sciences.