September 8, 2017 | Coralville, IA. Viewpoint Molecular Targeting, Inc., a University of Iowa start-up pharmaceutical company that has developed a novel therapy and companion diagnostic for metastatic melanoma, has been awarded a Phase II Small Business Innovation Research (SBIR) Contract Award valued at $2 million from the National Institutes of Health (NIH) to support pre-clinical studies of its lead product, VMT01. The company has successfully secured $900K in previously awarded Phase I SBIR grants and contracts. “We value the NIH’s continued recognition of the importance of our products and its support of our development program. We are excited with the progress we are making to bring our products forward,” said Edwin Sagastume, Viewpoint Biochemical Engineer and University of Iowa graduate.
About Viewpoint Molecular Targeting
Viewpoint Molecular Targeting develops therapies and diagnostics for cancer, with a focus on metastatic melanoma and neuroendocrine tumors. It’s lead products, VMT01 and VMT-α-NET, are injectable radiopharmaceuticals. The products can be used to determine the location and extent of cancerous tumors in the body and then the therapeutic forms can be used to direct a therapeutic dose of radiation precisely to cancer cells in the body. This represents a new class of drugs called theranostics.
Viewpoint has successfully secured over $6 million through seed capital investments, NIH SBIR grants, Iowa Economic Development Authority Demonstration Funds, Innovation Iowa Corporation Matching Funds, and business pitch competition victories. The current award sends the company into clinical trials for its lead products, with other cancer therapy products in the development pipeline.
About NIH SBIR Program
The NIH SBIR program funds early stage small businesses that are seeking to commercialize innovative biomedical technologies. This competitive program helps small business participate in federal research and development to develop life-saving technologies and create jobs.
See more: UIHC
Viewpoint’s products are currently under development and therefore not approved by the FDA.