The award is to advance the product development and commercialisation of its topical Albuterpenoid drug, a patented anti-viral therapeutic derived from East Indian Sandalwood oil (EISO), aimed at treating common skin warts.
Startech and the STRCIC president and CEO Jim Poage said that the investment in ViroXis will enable the continued development of important technology that will ultimately provide a safer and more effective way to treat skin warts – particularly in children. This therapeutic agent is a novel and innovative way to use botanical compounds that exist in nature and apply them to heal the human body.
ViroXis president and CEO Ian Clements said that the Texas ETF investment will enable them to move their lead product into clinical trials, bringing one step closer to launching a novel botanical drug for treatment of a serious and problematic skin condition.
Startech is a private non-profit 501 (c)(3) Texas corporation. It works closely with several funding sources including the South Texas Angel Network, the Texas Emerging Technology Fund, Venture Capital, SBIR and STTR grants, Microsoft BizSpark, and many others in the South Texas regional economy.