Biotech company with ties to USF relocating to St. Pete

Company used a USF patent in helping to develop its therapies to treat cancer and infectious diseases

ST. PETERSBURG, Fla. (Oct. 20, 2011) – Officials with the city, state and University of South Florida Thursday announced that a clinical stage biotechnology company is moving its operations from New York to St. Petersburg’s Gateway Area – a significant new stage in its long-term partnership with USF.

IRX Therapeutics, Inc. is developing therapies to treat cancer and infectious diseases.  Its lead product, IRX-2, is an active immunotherapy that is designed to treat cancer by restoring the patient’s immune system and enabling an immune attack on the tumor.  To date, IRX has raised $90 million of capital to fund pre-clinical research, manufacturing and clinical development of IRX-2. 

“This announcement is a great example of the impact that an academic medical center has on the economic development of a community,” said Dr. Stephen Klasko, CEO of USF Health and dean of the College of Medicine.  “We’re bringing ideas, inventions and businesses to the region and that means jobs . . . and ultimately improving the lives of the citizens of the region.”

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