BOULDER, COLORADO, September 26, 2012 –Siva Therapeutics has been awarded a grant of $350,000 from the Thiel Foundation’s prestigious new program to fund scientific innovation, Breakout Labs. The grant will allow Siva to pursue milestones proposed in a project titled: “Nanorod-Based Photothermal Therapy: An investigation of the optimal size, shape, surface chemistry, and heating characteristics of precision gold nanorods for practical photothermal therapy in abnormally vascularized tissues.”
Continuing development of several aspects of Siva’s platform technology for photothermal therapy will be supported by this grant, focusing on both cancer and rheumatoid arthritis indications. In addition to continued development of improved gold nanorods, in partnership with NanoRods LLC, the grant will fund the development of a practical, inexpensive, portable source of infrared light, which is necessary for Siva’s photothermal therapy regimen.
“This is not only important funding for Siva at this critical stage in our growth, but also important recognition by a pioneering and innovative foundation.” said Len Pagliaro, PhD, CEO of Siva, “Breakout Labs and the Thiel Foundation have created a unique, minimally dilutive model for funding early stage companies such as Siva. We are honored and delighted to be recognized by Breakout Labs, and we look forward to working with them.”
“Nanotechnology is poised to make an enormous impact on human health,” said Breakout Labs Executive Director Lindy Fishburne. “We are delighted to support Siva as it takes its next steps in turning groundbreaking nanoscience into innovative therapies for cancer and other diseases.”
About Siva Therapeutics Inc
Siva Therapeutics Inc is an early stage biotechnology company developing a photothermal device cancer therapy which uses heat to irreversibly damage solid tumor tissue. The heat is delivered to tumors by infrared light that is absorbed by gold nanoparticles and re-emitted as heat. The size, shape, and surface chemistry of the particles target the leaky vasculature of solid tumors, and the selective thermal sensitivity of tumor tissue enables the therapy to deliver clean margins. Siva therapy promises to be extremely safe, effective, and competitive in cost relative to surgery, chemotherapy, and radiation for cancer treatment. For more information please visit: www.sivatherapeutics.com.
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About Breakout Labs
Breakout Labs is the Thiel Foundation’s newest program. Through Breakout Labs, the Foundation is reshaping the way early-stage science is funded, so that early-stage companies can advance their most radical ideas. Venture capital firms want research that can be quickly brought to market, and federal funding offers little room for risky, unproven ideas. The Foundation is jumping into this funding gap to energize innovative research. Breakout Labs is not a typical foundation grant—it is a revolutionary, revolving funding model where successful projects fund the next generation of audacious scientific exploration. For more information please visit: www.breakoutlabs.org and www.thielfoundation.org.
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About NanoRods, LLC
NanoRods, LLC is a nanotechnology company, based in the state of Maryland, with a mission of meeting the current nanotechnology demands of industry and academia, and speeding up the development of gold nanorod-based products. NanoRods produces and sells gold nanorods, and offers nanotechnologies with applications in sensing, biotechnology and energy efficient platforms. Siva Therapeutics announced its close partnership with NanoRods in June, 2011. For more information please visit www.goldnrs.com.
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