Tucson, AZ (PRWEB) February 01, 2015
Nuvox Pharma is pleased to announce that they have been chosen as one of six winners in the Fall 2014 Arizona Innovation Challenge, sponsored by the Arizona Commerce Authority. The AIC is a bi-annual business plan competition that awards qualified, innovative start-ups and early stage companies, up to $250,000 in grant funding capital to grow their businesses.
Marvin Slepian, MD, Professor of Medicine and Biomedical Engineering, Director of ACABI - the Arizona Center for Accelerated BioMedical Innovation at the University of Arizona, founder of Syncardia and Board Member of NuvOx Pharma said, “We are pleased to receive this award for the Arizona Innovation Challenge (AIC) from the Arizona Commerce Authority. I am also pleased to serve as a Board Member of NuvOx. The AIC award is further validation of NuvOx’s paradigm changing nanotechnology platform and drug development program.”
A panel of expert judges evaluates submitted applications from the Fall 2014 AIC, assessing each on a set of criteria including technology potential, marketing strategy, quality of management team and economic impact.
“The Arizona Innovation Challenge is one of many programs that foster innovation and build Biotech companies in our state. In the most recent competition 156 companies applied and NuvOx was selected as 1 of 6 winners of the AIC. NuvOx is the kind of innovative company that will help strengthen Biotechnology in Arizona and create value and benefits for it's citizens”, said Joan Koerber-Walker, President and CEO of AZBio.
NuvOx Pharma‘s lead product is a therapeutic biotechnology for improving oxygen delivery in the bloodstream to help treat life-threatening conditions, including radiation-resistant cancers.
Evan Unger, MD, co-founder and President and CEO of NuvOx commented, “We are very pleased to receive this award from the Arizona Commerce Authority (ACA). The ACA is very supportive to our development as a life sciences company. This award helps us to advance our lead program in treating brain cancer as well as other applications.”