43North gives away $5 million to startup companies

Rachele Mongiovi | WIVB

 

BUFFALO, N.Y. (WIVB) — 43north gave away $5 million Thursday night to help people with big ideas turn them into a reality. 43North is part of the governor’s Buffalo Billion investment in western New York.

There were ten finalists, but only one company took home $1 million. The winner was Boston-based company, Oncolinx.

Oncolinx is developing target cancer immunotherapies. It’s a patented immune-activating drug, specifically to tumor cells .It avoids the many side effects associated with traditional forms of chemotherapy.

The company is also receiving free incubator space on the Buffalo Niagara Medical Campus for one year.

Oncolinx says they will be creating jobs in Buffalo, while helping patients affected by cancer.

“It means that we can accelerate the development timelines of our drugs, that means getting into patients sooner, helping patients and their families in a much sooner time table, treating more cancers, working with more pharmaceutical companies,” said Sourav Sinha, CEO of Oncolinx.

“It took a long time for us to get here and you know I think we were drawn here because of science and the technology, but to feel the support of 43North and the fact that now our dreams and the dreams of many people can come true, for us it’s the best opportunity and we are so grateful to be here,” said Riley Ennis, COO of Oncolinx.

The company is already partnered with 14 pharmaceutical companies and plans on entering clinical trials late next year. They also plan on working with Roswell Park Cancer Institute.