Cancer Research Technology Ltd
(CRT) announced the establishment of an American arm – Cancer Research Technology
Inc – at the BIO2006 conference in Chicago today (Tuesday 11
April 2006). Dr Larry Steranka has been recruited to be the US subsidiary’s
first managing director.
CRT is Europe’s leading specialist oncology development and
commercialisation company, and is wholly owned by Cancer Research UK.
CRT Inc will be based in Boston, Massachusetts. Dr Steranka will forge
relationships with leading cancer researchers in American academic
and not-for-profit institutions, as well as represent CRT in licensing
discussions with US biopharmaceutical companies. Dr Steranka brings
a wealth of experience in both the pharmaceutical industry and leading
US universities.
CRT was set up to collaborate with Cancer Research UK-funded scientists,
advancing their findings from exploratory research to industrial development,
generating new cancer drugs and technologies. It is driven by patient
benefit, focuses exclusively on cancer, and has a range of resources,
including its specialised Development Laboratories in London, UK, designed
to maximise the potential of academic-based cutting edge discoveries.
In recent years, CRT has expanded its activities to work with academic
institutions and charities from around the world and the move into
America follows numerous high-profile deals across Britain and Europe.
With an annual revenue of about £25 million, CRT’s primary
objective remains patient benefit, and all profits go straight back
to Cancer Research UK.
Dr Steranka said:
“ CRT is at the forefront of cancer-specific
technology transfer and can fill the fundamental gap between basic
science and the more advanced stages in the development of new ways
to diagnose and treat cancer. Although American universities already
have licensing and technology transfer offices, they are not focused
on cancer and do not have the same depth of development resources that
CRT has available.
_ Some of the world’s best cancer research institutes
and scientists are in America. I’m delighted to have this opportunity
to work with them and to show them how CRT can help turn their scientific
findings into effective cancer medicines.”
Prior to joining CRT Inc as managing director, Dr Steranka was the
executive director of Brandeis University’s Office of Technology
Licensing, and immediately before that, he was an associate director
for licensing at Harvard University’s Office of Technology and
Trademark Licensing. Dr Steranka has also held senior positions within
major pharmaceutical and biotechnology companies.
Dr Keith Blundy, chief operating officer of CRT and chairman of CRT
Inc, said:
“ Through CRT Inc, Dr Steranka will reinforce our strategy
of oncology-focused development of diagnostics and therapeutics in
partnership with leading American academic institutions. Dr Steranka’s
experience, both in industry and academic-based technology transfer,
will benefit CRT’s operations on both sides of the Atlantic.”
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