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Tolera Therapeutics has been recognized as one of the 2010 "Michigan 50 Companies to Watch," an awards program sponsored by the Edward Lowe Foundation and presented by Michigan Celebrates Small Business.
Tolera Therapeutics will be honored at an awards ceremony during the sixth annual Michigan Celebrates Small Business event, April 29 in Lansing, Mich.
Tolera is a Kalamazoo, Michigan based clinical stage company with a highly specific T-cell targeting monoclonal antibody technology (anti-TCR) for immune modulation. This technology has broad application potential in T-cell mediated disease such as transplant rejection, autoimmune disease (e.g. type 1 diabetes and multiple sclerosis) and hematological malignancies (e.g. leukemia). Tolera will initiate Phase 2 human clinical trials this summer for its lead drug candidate TOL101.
"This recognition is very meaningful for us," commented Tolera's CEO John Puisis. "Immune therapy using biologic antibodies was pioneered in Michigan with the introduction of Atgam, the first antibody drug approved by the FDA. We're pleased to have found such great support here as our team develops the latest generation of targeted antibodies."
"Now 300 strong, the second-stage businesses that comprise the Michigan 50 Companies to Watch have not only persevered through challenging times, but also found opportunities to grow," says Penny Lewandowski, director of entrepreneurship development at the Edward Lowe Foundation. "They continue to hire and develop new markets for their products and services. Some have attracted significant amounts of venture capital, while others have been awarded prestigious federal grants. They are making a substantial difference in their communities -- and their industries. Our 2010 inductees are proof that entrepreneurs are, and always have been, the future of Michigan's economy."
Companies making it to the "Michigan 50 Companies to Watch" list are a remarkable group of second-stage companies. Defined as having 6 to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants, these companies form the back-bone of Michigan's economy. Representing all regions of the state and a diverse range of industries, companies like Tolera Therapeutics are known for their exceptional entrepreneurial leadership, creation of innovation or use of innovation in creative ways, and their sustainable competitive advantage.
Winners were selected by Michigan-based judges from the banking, economic development, entrepreneurship development and venture capital communities.
Michigan 50 Companies to Watch is presented by Michigan Celebrates Small Business.
PNC Bank is the lead underwriter for Michigan Celebrates Small Business, with additional underwriting support from Clark Hill PLC, Michigan Economic Development Corporation, Michigan Certified Development Corporation, Accident Fund Insurance Company of America, Comcast Business Class, Comcast Spotlight, and Dynamic Edge.
Michigan Celebrates Small Business is presented in association with the Michigan Economic Development Corporation, Michigan Small Business & Technology Development Center, Small Business Association of Michigan, the U.S. Small Business Administration - Michigan, and the Edward Lowe Foundation.
Information about the 2010 Michigan 50 Companies to Watch program can be found at http://michigan.companiestowatch.org/. For information about Michigan Celebrates Small Business, visit http://michigancelebrates.biz/.
Tolera Therapeutics is a Kalamazoo, Michigan based biotechnology company. Primary investors in the company include SWMF Life Sciences Fund, Triathlon Medical Venture Partners, Hopen Therapeutics and the Michigan Economic Development Corporation. Building upon research done at the University of Kentucky and the Cleveland Clinic, Tolera Therapeutics is developing and commercializing therapies for the immune therapeutics market with the goal of addressing unmet medical needs with safer, more targeted solutions to reduce the risks of serious and toxic side effects often associated with immunotherapy. The company is focusing on commercializing therapeutic monoclonal antibody technology for the transplantation and autoimmune markets. Additional information concerning the company and its technology can be found on its website www.tolera.com.
This article was prepared by Medical Letter on the CDC & FDA editors from staff and other reports. Copyright 2010, Medical Letter on the CDC & FDA via NewsRx.com.
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