Today, a USC-licensed startup that developed an intranasal drug delivery system for brain tumors will be listed for the first time on Nasdaq. To celebrate the direct listing, the USC Stevens Center for Innovation and the startup, NeOnc Technologies Holdings Inc., will ring the opening bell at 9:30 a.m. EDT/6:30 a.m. PDT.
NeOnc is based on intellectual property developed by neurosurgeon and NeOnc founder Thomas Chen of Keck Medicine of USC, who is also a tenured professor of neurological surgery and pathology with the Keck School of Medicine of USC. NeOnc is the first USC-licensed biotech company with agreements through USC Stevens to go public.
The promising cancer drug is just one example of the groundbreaking discoveries that research universities bring from the bench to a patient’s bedside through collaborations with biomedical and pharmaceutical companies.
“University research is the cornerstone of groundbreaking medical advancements,” said Ishwar Puri, USC senior vice president, research and innovation. “Our researchers and innovators are pioneering novel treatments that have the potential to transform patient care. By fostering collaboration across disciplines and with industry collaborators, we accelerate the path from discovery to real-world impact, ensuring that scientific breakthroughs lead to tangible improvements in human health.”
NeOnc’s initial focus is on treating malignant gliomas with a proprietary drug called NEO100, an ultra-purified perillyl alcohol with cancer-fighting properties now in phase 2 clinical trial. Glioblastoma, the most aggressive malignant glioma, is among the toughest cancers to treat, due to its ability to infiltrate brain tissue. Complete surgical removal is difficult, and median survival is only 15 months. Malignant gliomas affect up to 15,000 Americans each year
“Our approach allows us to bypass the blood-brain barrier and target the tumor directly,” said Chen, who estimates he has treated over 1,000 glioblastoma patients since he joined the USC faculty in 1997. “The molecule we’re delivering is inhaled through the nose, crosses the nasal passage, interacts with the olfactory nerve and then enters the cerebrospinal fluid and circulates throughout the brain. This is different from traditional chemotherapy which is usually given orally and intravenously.”
The USC Stevens works to move the discoveries of USC researchers from the lab to the marketplace. Erin Overstreet, executive director of USC Stevens, said NeOnc’s direct listing illustrates the importance of the university’s support for scientific innovation. “Stevens’ role is to support early-stage companies like NeOnc with startup-friendly terms that enable progress toward critical milestones — like a public listing — and without creating unnecessary barriers.”
Read the entire USC News story written by Leigh Hopper here.
Watch the Nasdaq Opening Bell Ceremony here.
Photo credit: Nasdaq, Inc./Vanja Savic