SCRA Technology Ventures Celebrates Investment
SC Launch Invests in Charleston-based Charleston Pharma
Summerville, SC - SCRA Technology Ventures' SC Launch presented a "big check" to commemorate an investment yesterday evening during the annual Southeast BIO Investor Forum. SCRA's Greg Hillman is serving as co-chair of the Investor Forum and Partnership Steering Committee for this year's event, held in Charleston, South Carolina. SC Launch company NeuroQuest is among the early-stage companies presenting and vying for the Early/Stage Company Awards, which will be announced today.
Charleston Pharma is focused on developing innovative therapeutic antibodies and related diagnostic tests for cancer patients and healthcare providers. Research is done in laboratories at the SCRA MUSC Innovation Center and is designed to identify the most promising antibodies for studies that will establish preclinical efficacy and safety. An SC Launch company since October 2010, Charleston Pharma has received a grant and two prior
investments from the program. The most recent investment will be used to expand recombinant production efforts, explore antibody-drug conjugates and add animal efficacy studies.
"We are delighted to recognize Charleston Pharma as they continue to grow and meet new milestones," said SCRA CEO Bill Mahoney. "We are honored to support this company as we foster the technology-based economy in South Carolina."
About SCRA Technology Ventures
SCRA Technology Ventures enables research commercialization and promotes the development of high tech industries, enhancing South Carolina's technology-based economy. Through its flagship SC Launch program, this SCRA business sector makes investments in and offers support services to South Carolina's early stage, start-up technology companies.
Multiple economic impact studies show SCRA's cumulative output on South Carolina's economy to be over $19.5 billion, and that the company has helped create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $79,000.