Product Development Research
CPRIT’s Product Development Research Program funds projects at Texas-based companies developing novel products or services intended to benefit cancer patients. Groundbreaking science is most valuable when it is translated into cancer drugs, diagnostics, and therapies that are available to all Texans. Product development activities convert novel laboratory findings into a safe and reliable product available to treat cancer patients. CPRIT supports projects that accelerate the development of promising research discoveries through the crucial early stages of regulatory development.
The Product Development Research Program funds clinical research that confirms the safety and efficacy on the target patient population, as well as necessary steps to gain regulatory approval required prior to commercial use. Startup companies conduct these early stage product development, clinical research, and regulatory approval activities. Developing novel cancer drugs and diagnostics is expensive, with the latest studies showing the cost of a new therapeutic can be up to $3 billion. CPRIT typically invests in early stage companies where private capital is hardest to obtain.
CPRIT provides only a portion of the funding required to complete development with the bulk of funding typically originating from private sources. However, CPRIT’s investment is critically important because it funds development activities that are early in the process but necessary for any further progress. CPRIT’s investment in early stage companies also increases the number of cancer therapies in development in Texas, thereby stimulating the Texas life sciences ecosystem.
CPRIT’s Product Development Program has invested in a diverse portfolio of startup companies developing groundbreaking therapeutics, diagnostic and tools targeting a wide variety of cancer types. CPRIT awardee companies are actively conducting preclinical research and clinical trials to bring these innovate technologies to market.