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BioInc@NYMC Welcomes Sapience Therapeutics, Inc.
Sapience Therapeutics, Inc. Developing Therapeutic Agent to Address High Mortality Cancers
Valhalla, N.Y., August 3, 2016 – New York Medical College (NYMC) recently welcomed Sapience Therapeutics Inc., to BioInc@NYMC, the only biotech incubator in the region that is co-located within a health sciences college campus.
In addition to being welcomed into BioInc’s premier incubation program, Sapience Therapeutics, which is developing novel therapeutics to address high mortality cancers, recently announced that it completed a $22.5 million Series A financing. The funding will primarily support the development of Sapience’s main drug candidate, ST-36, which specifically targets a protein that promotes the growth of numerous types of tumors, including glioblastoma, the most severe and deadly form of brain cancer. For additional information visit the company’s website at www.sapiencetherapeutics.com.
"We are pleased to be part of the growing biotechnology community in Westchester County and specifically at BioInc@NYMC,” said Dr. Barry Kappel, the President and Chief Executive Officer of Sapience Therapeutics. “The BioInc@NYMC incubator provides us with the resources to develop our novel treatment approaches and flexibility to grow as needed. Importantly, BioInc@NYMC allows a start-up such as Sapience to hit the ground running and work towards our goal of saving patients’ lives.”
“Sapience Therapeutics is an addition to BioInc that will play an essential role in furthering our mission of exploring new treatments and applications for human disease through biomedicine,” said Randi D. Schwartz, M.B.A., interim director of BioInc@NYMC and associate dean for academic administration. “Their recent round of funding is a testament to their promise for the world of oncology and puts them one step closer to developing solutions for treating high-mortality cancers.”
“BioInc@NYMC continues to support young companies that are tackling global health issues,” said Douglas Miller M.D., C.M., M.B.A., dean of the School of Medicine at New York Medical College. “Sapience Therapeutics has licensed intellectual property from Columbia University from which the company is developing novel solutions in the field of oncology. Sapience will serve to enrich the BioInc culture that is making strides to improve the world through the use of biotechnology and medicine.”
A top regional economic priority, BioInc@NYMC is a public-private enterprise, combining resources from the federal government, New York State, Westchester County and NYMC. BioInc’s proximity to New York City goes beyond providing start-ups simply with affordable space: it gives them access to invaluable resources, such as cutting-edge core facilities with wet lab space, shared resources, collaboration with scientists and clinicians, and sponsored professional services.
Additionally, BioInc@NYMC assists members in refining business strategies, conserving capital, building strong teams and achieving development and funding milestones. It has been approved by Start-Up NY and has received the multi-year Mid-Hudson Innovation Hot Spot award granted by the New York State Regional Economic Development Council.
Launched in October 2014, BioInc@NYMC occupies a 10,000-square-foot wing of a 129,000-square-foot campus building. An initial build-out of 4,500-square-feet with finished laboratories, offices and shared infrastructure is ready for immediate occupancy. Development of the remaining space is planned to proceed as the initial spaces are filled. Additional available space in the same building (50,000 to 60,000 square feet) is ideal for future growth of the incubator or related biomedical research activities.
In addition to Sapience Therapeutics, BioInc@NYMC’s tenants include:
- Accent BioSystems: Developing new technologies in protein production, analysis, crystallization and structure determination
- Four LLC: Creating a new category in sustainable nutrition with products that instantly curb cravings
- MediSprout: Providing physicians and patients with tools to instantly connect and schedule virtual visits
- MOE Medical Devices LLC: Creating cold electrical plasma therapeutics
- Conversion Energy Enterprises: Developing and prototyping innovative laser products for medical applications
- SHY Therapeutics: Researching and developing therapeutic oncology products
About Sapience Therapeutics
Sapience Therapeutics, Inc., is a privately held, preclinical stage biotechnology company focused on developing novel therapeutics for major unmet medical needs, particularly high mortality cancers. Our drug development program involves translating science into novel therapies, and our initial goal is to develop a first-in-class treatment for glioblastoma (GBM), which is the most severe and deadly form of brain cancer. For more information on Sapience Therapeutics, please visit www.sapiencetherapeutics.com.
About New York Medical College
Founded in 1860, NYMC is one of the oldest and largest health sciences colleges in the country with more than 1,400 students, 1,300 residents and clinical fellows, nearly 3,000 faculty members, and 16,000 living alumni. The College, which joined the Touro College and University System in 2011, is located in Westchester County, New York, and offers advanced degrees from the School of Medicine, the Graduate School of Basic Medical Sciences, and the School of Health Sciences and Practice. With a network of affiliated hospitals that includes large urban medical centers, small suburban clinics and high-tech regional tertiary care facilities, NYMC provides a wide variety of clinical training opportunities throughout the tri-state region for medical students, residents, and other health providers.