Local biotech 48Hour Discovery, in partnership with Dr. Frank Wuest from the University of Alberta, secures vital funding to advance radiopharmaceutical development in Edmonton
[Edmonton, Alberta] January 23, 2024 – In a transformative move towards advancing cancer care, the Alberta Cancer Foundation proudly announces the inaugural recipients of its innovative Breakthrough Fund. The philanthropic initiative, redefining traditional models, is designed to propel critical cancer research towards commercialization and improved patient outcomes.
The Breakthrough Fund bridges the gap between applied research and early-stage investment, accelerating the transformation of groundbreaking ideas into tangible treatments for patients. It positions donors as strategic investors, fostering a collaborative approach to revolutionizing cancer care.
Cory Janssen, Chair of the Breakthrough Fund and Co-Founder and Co-CEO of AltaML, expressed enthusiasm, stating, “The Breakthrough Fund is a revolutionary way of thinking about philanthropy and creates important opportunities for researchers and the future of cancer care and treatment in Alberta and beyond.”
In a significant announcement today, 48Hour Discovery was honored with a $100,000 grant from the Breakthrough Fund. The company’s pioneering work centers on developing radiopeptide-based theranostics, offering a non-invasive systemic approach for precise cancer treatment across various malignancies. The Breakthrough Fund investment is poised to accelerate 48Hour Discovery’s research, promising advancements in cancer care and treatment options.
“As we embark on this collaborative journey with the Alberta Cancer Foundation’s Breakthrough Fund, we are honored to be at the forefront of pioneering solutions in cancer research. This recognition fuels our commitment at 48Hour Discovery to push boundaries, bringing us closer to groundbreaking therapies that can transform the lives of cancer patients. The Breakthrough Fund not only accelerates our research but also exemplifies the power of strategic partnerships in driving meaningful progress and building the radiopharmaceutical ecosystem right here in Edmonton.” expressed Rick Finnegan, CEO, 48Hour Discovery.
The Breakthrough Fund’s support of 48Hour Discovery exemplifies its commitment to catalyzing transformative cancer research. For more information on the Alberta Cancer Foundation and the announcement, visit their press release here.
About 48Hour Discovery
48Hour Discovery, headquartered in Edmonton, is a pioneering biotechnology company that specializes in rapid drug discovery through its revolutionary peptide platform. By harnessing state-of-the-art technologies, the company quickly identifies and optimizes drug candidates providing an innovative approach to tackling unmet medical needs. Founded in 2017, 48Hour Discovery has validated its technology through strategic partnerships with over 25 companies, including global pharmaceutical leaders. With a dedicated focus on developing radiopharmaceutical assets, the company is at the forefront of advancing precision medicines for the diagnosis and treatment of various cancers. Discover more about our groundbreaking initiatives at www.48hourdiscovery.com.