Cynvenio Biosystems Inc., a Westlake Village company specializing in the development of cell isolation systems for biomedical research, has been awarded two Small Business Innovation Research (SBIR) contracts by the National Cancer Institute. The contracts are for the development of novel lung cancer tests.
The company received $195,000 from the NCI for each contract. They also have received an additional $1.2 million from existing shareholders as part of a committed $2 million financing agreement from its board of directors.
The funding will allow Cynvenio and its collaborators to accelerate “our validation programs aimed at harnessing the DNA of mutation-bearing Circulating Tumor Cells (CTCs) in lung cancer patients,” Andre de Fusco, Cynvenio’s CEO, said in a statement.
“The NCI awards reflect a growing recognition that CTCs are central to the longitudinal testing of cancer patients and the implementation of personalized medicine models,” de Fusco said.