Protez Pharmaceuticals, a developer of innovative antibiotics to combat drug-resistant and life-threatening infections, announced the closing of a $15 million Series B financing. Protez intends to use the proceeds from the financing to accelerate development of its lead compound SMP-601, a potent injectable antibiotic with a uniquely broad spectrum of activity against both drug resistant gram- positive and many gram negative pathogens. These organisms cause millions of infections in hospitalized patients in the U.S. each year and are a major source of mortality and expense. Protez intends to initiate clinical trials with SMP-601 during 2006.

"This financing represents a significant milestone for Protez as it enables us to rapidly progress our lead compound toward human trials while also advancing the other novel antibiotics in our pipeline," said Christopher Cashman, chief executive officer of Protez Pharmaceuticals. "We look forward to using these funds to accelerate development of SMP-601, which we believe has significant potential to combat many of the life- threatening infections that are taking an ever greater toll in lost lives and wasted resources."

The Series B financing was led by BioAdvance Ventures and Birchmere Ventures. BioAdvance Ventures is an early-stage life sciences fund managed by Quaker BioVentures and sponsored by BioAdvance. Headquartered in Pittsburgh, PA, Birchmere Ventures' third fund, Birchmere Ventures III, focuses on early- stage technology and life sciences companies throughout the mid-Atlantic region. Other investors include L Capital Partners and S.R. One. Previous investor BTG also participated.

"Protez has brought together a unique antibiotic compound addressing a large and growing market opportunity with a team that is well-equipped to move it effectively through clinical development," said Sherrill Neff, managing partner of Quaker BioVentures. "Preclinical data suggest that SMP-601 could be a critically important new weapon in the fight against the growing incidence of hospital-based infections that do not respond to existing treatments, and we look forward to the progress of both this promising agent and other novel antibiotic compounds in the Protez pipeline."

Source: Protez Pharmaceuticals

− Research funding total highest ever in the Medical Center's history −

Research funding at Penn State College of Medicine, Penn State Milton S. Hershey Medical Center, hit an all-time high in Fiscal Year 2005 exceeding $100 million.

This continues a growth trend in sponsored research funding, which started at $54 million in FY 2000, and increased to $70.1 million in 2001, $83.3 million in 2002, $85.1 million in 2003, $98.4 million in 2004, and now, $100.8 million in 2005.

"Exceeding our $100 million goal is an important milestone for our institution and is a true testament of the dedication, initiative and expertise of our talented faculty, scientists and staff," said Jay Moskowitz, Ph.D., associate vice president for health sciences research, Penn State, vice dean for research and graduate studies, Penn State College of Medicine, and chief scientific officer, Penn State Hershey Medical Center. "Penn State's research mission plays a key part in the continued growth in our region's economic prosperity. Biomedical research is a great catalyst for the creation of skilled high level jobs and new products and services that benefit the health of all Americans."

During FY 2005, investigators submitted 904 proposals requesting $164.8 million for sponsored programs, which include all grants and contracts supporting research, teaching and patient care, whether they be funded by the National Institutes of Health, other government agencies, private foundations, or industry. During the same period, investigators received 595 awards totaling $100.8 million, an increase of 5.3 percent in the number of awards received and an increase of 2.3 percent in sponsored funding awarded compared to last year.

Research funding is used to support programs and infrastructure like that at the Penn State General Clinical Research Center, and educational programs like the National Institutes of Health-funded K30 program, which supports the training of physicians in clinical research methods. Research funding is also used to support collaborative research projects like the work by Ian Zagon, Ph.D., Jill Smith, M.D., and Patricia McLaughlin, Ph.D., on the use of opioid growth factor to treat pancreatic cancer, a project that started in Zagon and McLaughlin's basic science laboratories and moved to clinical studies led by Smith. Other research projects involve cross-institution and industry partnerships.

"None of this would be possible without collaboration, cooperation and partnerships with our Penn State University colleagues, federal and state agencies, other colleges and universities, international scientists and more," Moskowitz said. "This intricate network only strengthens our collective quest for improvements in medical quality, increases our knowledge base and brings better care to patients more quickly."

Research funding proposals may take months to write and be based on years of preliminary data. Funding organizations may then take months to review proposals and even conduct on-site evaluations before deciding which proposals should be funded and for how much.
Penn State Hershey Medical Center offers support to investigators and program directors making proposals for research funding through its Offices of Research Affairs and Research Development.

"We've nearly doubled our research funding in just five years. Now we must set the bar even higher," Moskowitz said. "We must use this success to foster new partnerships, maximize available resources at University Park and other campuses, and continue making discoveries that improve our understanding of disease and how we can use this knowledge to improve quality of life of people in Pennsylvania and throughout our nation."

Source: Penn State College of Medicine

− Largest single gift ever given to UPMC and University of Pittsburgh part of $200 million initiative−

Judge Marjorie O. Rendell, First Lady of Pennsylvania, joined Mr. and Mrs. Henry L. Hillman and leaders at the University of Pittsburgh Medical Center (UPMC), University of Pittsburgh and University of Pittsburgh Cancer Institute (UPCI) to announce a $20 million gift from the Henry L. Hillman Foundation and the Hillman Foundation to UPCI and UPMC Cancer Centers. The gift is designated to create The Hillman Fellows Program for Innovative Cancer Research and is launching a major initiative to raise $200 million for the cancer institute’s burgeoning cancer program to recruit new investigators, invest in new facilities and create scientific and economic advantages for the region and the state.

“This new initiative will ensure that Pennsylvania remains a national leader in cancer research and care. Additionally, it will provide renewed hope to the estimated 72,000 Pennsylvanians who will be newly diagnosed by the end of this year,” said Judge Rendell.

Jeffrey A. Romoff, president of UPMC, commented, “Today, we take another major step forward to generate the knowledge and resources that will allow us to alleviate the human suffering caused by cance. We at UPMC express our sincerest gratitude to the Hillmans for their support of our vision – we are confident that this initiative will lead to increased scientific prominence for our region and beyond.”

Mark A. Nordenberg, chancellor, University of Pittsburgh, concurred and praised the Hillmans for “helping to build a world without cancer.” Nordenberg went on to say that the support of promising young cancer researchers will further the University’s tradition of unlocking the secrets that help conquer the world’s most devastating diseases.

“I am delighted to be here today to announce our continued support of the remarkable work of this center,” said Mr. Hillman. “In its relatively short history, UPCI has become one of the country’s most important contributors to basic, translational and clinical cancer research. This initiative will provide new opportunities for Pittsburgh researchers to translate laboratory findings into effective prevention and treatment approaches for cancer patients, helping us to transform cancer from a deadly disease into one that can be managed and ultimately defeated.”

“Cancer affects people from every walk of life and truly touches us all,” added Mrs. Hillman. “With continued compassion and determination, however, I have no doubt that we will reach our goal of achieving a future without cancer.”

The Hillman Fellows Program is designated to provide “seed” money or venture capital for scientists, stimulating new collaborations and supporting novel ideas from junior and senior investigators. These investments, in turn, can be parlayed into more substantial funding from external sources such as the National Cancer Institute in targeted areas of research to help find new and innovative methods to prevent and treat cancer.

The gift is part of an overall five-year plan to expand the Hillman Cancer Center’s research laboratories and facilities, recruit world-class clinicians and scientists, broaden clinical research studies as well as community outreach and education, and increase the development of research endowments. A major capital campaign to support the overall program is in the early phases.
“I know that everyone here today joins me in thanking Mr. and Mrs. Hillman and the Hillman foundations for making this new initiative a reality. Ultimately, our results will be measured by a single standard – improved quality of life for our communities and our families, not only in this region, but around the world,” said Ronald B. Herberman, MD, director of UPCI and UPMC Cancer Centers.

The Hillman Cancer Center is the flagship facility for the UPMC Cancer Centers — a network of 43 office-based medical oncology practices and regional cancer centers that provides the highest standard of care for cancer patients throughout western Pennsylvania. The Hillman Cancer Center also is home to the research activities of the University of Pittsburgh Cancer Institute and includes more than 450 research faculty and staff.

Source: University of Pittsburgh Medical Center