Mag­no­lia bags a $20M CPRIT grant to back tri­al work on new drug; Evotec lines up a new part­ner on rare ge­net­ic dis­eases

→  Just days af­ter lin­ing up its Se­ries A launch round of $31 mil­lion, Mag­no­lia Neu­ro­sciences says that its whol­ly owned sub­sidiary won a $19.95 mil­lion grant from the Can­cer Pre­ven­tion and Re­search In­sti­tute of Texas to fund work on a new drug that pre­vents side ef­fects trig­gered by chemother­a­py. The com­pa­ny plans to launch a Phase I tri­al next year with enough grant mon­ey in hand to get through Phase IIa.

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