Tempe firm rakes in NIH grants
Summary:
A Tempe biotech firm, Intrinsic Bioprobes, Inc., is launching work this week on projects funded by two $2.3-million grants from the National Institutes of Health (NIH). The research focuses on identifying diseases before symptoms can be detected by X-rays and other traditional methods.
Full Story:
A Tempe biotech firm is launching work this week on projects funded by two $2.3-million grants from the National Institutes of Health (NIH). The research focuses on identifying diseases before symptoms can be detected by X-rays and other traditional methods.
The Business Journal reports that Intrinsic Bioprobes, Inc., will begin work stemming from a $1.5-million grant from the National Cancer Institute and an $800,000 Phase II contract with the National Institute of Environmental Health Sciences. Both groups are part of the NIH. In all, the company is under contract for $3.65 million in NIH grants to develop technologies to uncover proteins to diseases such as cancer, cardiovascular disease, and Alzheimer's.
Randall W. Nelson, a former Arizona State University professor, formed the company in 1996 and serves as its president and chief executive officer. The Business Journal reports that he and another ASU professor comprised the third group to independently publish work on techniques routinely used today in biological mass spectrometry, the accurate measurement of the weight of proteins. The first team to do so, only a year earlier, received the 2002 Nobel Prize in chemistry.
Nelson's firm had earlier received a $1-million grant from NIH's National Heart Lung and Blood Institute to study blood proteins associated with cardiovascular disease and Alzheimer's disease.
For more information:
"Advanced technology helps Tempe biotech firm land $3.7 million in grants," Business Journal, 09/08/2003