North Chicago, Ill.– UP Oncolytics, a Milwaukee-based biotech company focused on neuro-oncology, has secured a $75,000 matching grant from the Wisconsin Economic Development Corporation (WEDC) to accelerate the development of its experimental therapy targeting brain cancer.
The funding supplements a $500,000 Phase I Fast Track award from the National Institutes of Health (NIH), which the company received last year. The grant will support preclinical research on UP Oncolytics’ lead treatment, an oncolytic virus designed to target gliomas — the most common and aggressive form of brain cancer.
Founded as a spin-out from the Advocate Aurora Research Institute, UP Oncolytics recently expanded its research operations at Rosalind Franklin University’s Helix 51 biomedical incubator in North Chicago. The incubator is part of the university’s Innovation and Research Park (IRP), a hub for academic and industry collaboration.
Under the leadership of Chief Scientific Officer and co-founder Dr. Parvez Akhtar, the company has bolstered its research team with the addition of Dr. Steven Markwell, a senior scientist formerly with AbbVie. Dr. Markwell specializes in preclinical glioblastoma models and tumor microenvironments and completed his postdoctoral fellowship at Northwestern University.
The company’s leadership team has also gained notable industry veterans. Dr. Gary Gordon, a former oncologist with executive experience at AbbVie, Abbott, and Pharmacia, has joined the board. Michael Rosen, managing director of RFU’s IRP and Helix 51, has also joined as a board observer. Rosen previously held leadership roles at Pfizer and Bristol-Myers Squibb and has helped lead multiple biotech ventures in the U.S. and Europe.
In late 2024, UP Oncolytics received Orphan Drug designation from the U.S. Food and Drug Administration for its glioma-targeting oncolytic virus — a regulatory milestone that may expedite development and offer market exclusivity if the therapy is approved.
“We are pleased with our progress over the past year, including the establishment of our new laboratories at Helix 51,” said Dr. Richard Rovin, UP Oncolytics president, CEO, and neurosurgeon. “There is an urgent, unmet need for new treatments for malignant gliomas. We are working hard to bring our oncolytic virus into clinical trials.”
Dr. Joseph DiMario, executive vice president for research at RFU, praised the company’s momentum: “We share Dr. Rovin’s enthusiasm for these milestones and look forward to the impact this work could have on glioma patients.”
