The Colorado Institute for Drug, Device and Diagnostic Development (CID4), a 501(c)(3) not-for-profit, selected Veterinary Emerging Technologies Development Corp. (VetDC) to receive funding and management assistance. VetDC develops and commercializes technologies to address unmet medical needs in companion animals.
In the first quarter of 2011, VetDC acquired all North American veterinary rights to VDC-1101 (GS-9219), an anti-proliferative agent that targets lymphoid cells and works by inhibiting DNA synthesis, leading to the induction of apoptosis or programmed cell death. The VDC-1101 acquisition from Gilead Sciences allowed for development and commercialization of the agent for use in animal cancer.
“We are excited to partner with VetDC and their experienced management team,” says Richard C. Duke, founder and chief scientific officer of CID4. “Our capital and management resources will assist with late-stage clinical trials and the potential commercialization of what may be an important new therapeutic option for animals suffering from lymphoma.”
Steven Roy, president and CEO of VetDC says CID4 funding will help advance the company’s lead cancer program and increase employment.