Curtains for Colon Cancer? Tucson Cancer-Drug Firm Eyes IPO to Raise $29 Million

Cancer Pre  CMooney CGM_2588
Eugene Gerner and Jeffrey Jacob in the lab. (Photo by Chris Mooney)

Tucson-based Cancer Prevention Pharmaceuticals (CPP) made national headlines earlier this week when it announced its intention to go public in order to raise an additional $29 million for the expected launch of promising new cancer fighting drugs. In addition, they have entered into multimillion dollar agreements with multiple national drug companies in an effort to prevent colon cancer and related diseases. This is exciting news indeed, as CPP’s success could eventually spell “curtains” for colon cancer. With their leading drug candidate, CPP is already in advanced clinical trials.

CPP shares plenty of Tango ties, including the University of Arizona, Research Corporation Technologies, and Critical Path Institute. Everyone at Tango is rooting for CPP during its approval period. We all owe thanks to CPP for its efforts to help prevent cancer as well as for shining the light on Tucson as a thriving center for medical research and development. View the full article here.

Creative Machines Expanding

Creative Machines is applying for a tax incentive from the city of Tucson in order to aid the company’s expansion. One requirement of the application states, “A business must make a capital investment of at least $1.5 milion,” according to this article. In order to meet this requirement, Joe O’Connell and Creative Machines relied on Tom Hunt and Tango to buy a building for $1.56 million in December. The final decision on the tax incentive now sits in the hands of the City Council.