HARTFORD–U.S. Senator Chris Murphy (D-Conn.) announced that Modifi Bio, based in New Haven, was named January’s “Innovator of the Month.” Modifi Bio is a preclinical stage biotechnology company developing a new approach to oncology treatment by eradicating cancer though direct DNA modification. Their work is supported by the National Cancer Institute, and they recently received a Fast-Track Small Business Innovation Research (SBIR) Award of $2.4 million to further advance its novel precision oncology platform into the clinic.
“We all know someone who has been touched by cancer, and I’m proud that New Haven’s biotech industry is playing a major role in finding a cure. Modifi Bio is completely rethinking oncology treatment by directly modifying the DNA of cancer cells. It’s a trailblazing approach, and I look forward to seeing their continued growth in the state,” said Murphy.
“We are thrilled to be part of the thriving Connecticut biotech ecosystem as we develop therapeutics aimed at changing the oncology treatment paradigm,” said Modifi Bio Co-founder Ranjit Bindra, MD, PhD, who is the Harvey and Kate Cushing Professor of Therapeutic Radiology at Yale School of Medicine, and Scientific Director of the Yale Brain Tumor Center at Smilow Cancer Hospital. “Our location in New Haven, within walking distance of Yale, allows us to easily collaborate with world-renowned scientists, clinicians and experienced biotech entrepreneurs.”
Murphy believes entrepreneurship and innovation are the building blocks for a strong economy. In the U.S. Senate, he has introduced legislation to incentivize angel investors to put more money into startup companies—the Angel Tax Credit Act. Startup companies create an average of 2 million jobs each year.