Viteava Pharmaceuticals And McGill University Funded For Collaborative Research Project
Viteava Pharmaceuticals recently announced that they have entered into a sponsored research agreement with McGill University, aimed at investigating flavonoids. The research studies will focus on novel analogs and derivatives of the flavonoid associated with green tea, also known as epigallocatechin-3-gallate or EGCG. Viteava comes from a new generation of bio startups, and the company associates themselves with the benefits of green tea leaves and focuses on the improvement of treatments for cancers.
The research team has been granted funds for their work from the Canadian Institutes of Health Research Proof of Principle – Phase II (CIHR POPII). Dr. Tak-Hang Chan, McGill University, will be onboard as the principle investigator and will conduct the study alongside Viteava Pharmaceuticals. Also conducting the study will be Dr. Ping Dou, Wayne State University and Karmanos Cancer Institute.
According to Viteava Pharmaceuticals, the study will focus on the development of VPE 001, a proprietary prodrug of EGCG, within the realm of the preclinical stage. The study will also encompass studies of characterization pertaining to animal cancer models. Funds from the grant have been allotted towards research for two potential backup drugs.
Viteava Pharmaceuticals CEO and Founder, Robert Foldes stated, "Competitive grants such as the CIHR POPII program provide important validation for the potential importance of this class of drug candidates, and represent a source of funding that is a life-line for start-up companies.” The research project is not being solely funded by the CIHRPOPII program. VentureStart, a program supported by the Federal Economic Development Agency for Southern Ontario, also matched funds for the research. The program is supported by the Ontario Network of Entrepreneurs (ONE), where Viteava also received valuable business support and mentoring for their endeavors via a residence at MaRS.