'Company-Builder' Picks Purdue-Connected Startup

Posted: Updated:

A company with connections to Purdue University is one of 40 startups selected to participate in a global program designed to support entrepreneurship. Akanocure Pharmaceuticals was established using Purdue intellectual property. Its selection for the FOUNDER.org Class of 2016 sets the company up for guidance and a potential $100,000 in funding. June 5, 2015

News Release

WEST LAFAYETTE, Ind., and PALO ALTO, Calif. - Akanocure Pharmaceuticals, a pharmaceutical company based on Purdue University intellectual property, has been selected from hundreds of competing international teams reviewed by FOUNDER.org to be one of 40 startups in FOUNDER.org's Class of 2016.

FOUNDER.org is a startup investor and company-building program for young entrepreneurs who have the courage, ideas, talent and commitment to change the world. Akanocure Pharmaceuticals synthesizes and develops anti-cancer chemotherapeutic drugs derived from natural sources. Sherine Abdelmawla, Mohammad Noshi and P. L. Fuchs co-founded the company. Abdelmawla is the CEO, Noshi is the COO and president of R&D, and Fuchs is the Emeritus R. B. Wetherill Professor of Organic Chemistry at Purdue's Department of Chemistry and the company's CSO.

"My colleagues and I are honored that FOUNDER.org has chosen us as one of the 40 companies for its Class of 2016," Abdelmawla said. "FOUNDER.org provides the resources to help entrepreneurs strengthen their companies during the yearlong program. Our team looks forward to becoming even more successful through the guidance and expertise offered through this program."

Akanocure Pharmaceuticals, which is based in the Purdue Research Park of West Lafayette, also received assistance from the Purdue Foundry, an entrepreneurial and startup hub based in the Burton D. Morgan Center for Entrepreneurship. The company also won the Purdue

Elevate Venture Fund Black Award.

Each of the 40 teams in the FOUNDER.org Class of 2016 will receive up to $100,000 in funding awards. Each year, these entrepreneurs engage in 8D, the FOUNDER.org company building program designed to create a foundation for sustainable, fast-growing startups. Teams from 28 schools in nine countries kick off at the World Founder Forum in Stockholm on June 14-17 with the FOUNDER.org alumni companies. FOUNDER.org will announce this year's $10,000, $50,000 and $100,000 funding awards at the World Founder Forum.

Three startups led by Purdue University students were named to the Class of 2015 program: DATTUS, formerly Bearing Analytics, Medtric Biotech LLC and SensorHound Inc.

About Akanocure Pharmaceuticals

Akanocure's mission is to synthesize and develop biotargeted anti-cancer chemotherapeutic drugs derived from natural sources. Akanocure's pipeline will consist of analogs of fully validated, highly potent anti-cancer natural products that can only be produced on a large scale through Akanocure's proprietary CCC synthesis platform. The company has competitive edges on two fronts: the synthesis platform that gives Akanocure exclusive access to rare compounds and the potential pipeline of anti-cancer products that are far superior to existing therapies.

About FOUNDER.org

FOUNDER.org is a startup investor and company-building program for courageous young entrepreneurs who are solving the planet's biggest problems. The extensive 8D© Company Building Program introduces new founders to the Silicon Valley way of building a high impact company and establishes the foundation for hypergrowth. FOUNDER.org also provides the funding that teams need to get started, investing directly in companies from partner schools in nine different countries. FOUNDER.org was started by a team of serial Silicon Valley entrepreneurs who have built billion-dollar companies and are now working with the next generation of courageous young innovators to help them alter the future and transform our world in profoundly positive ways.

About Purdue Foundry

The Purdue Foundry is an entrepreneurship and commercialization hub in Discovery Park's Burton D. Morgan Center for Entrepreneurship whose professionals help Purdue innovators create startups. The Purdue Foundry is managed by the Purdue Research Foundation, which received the 2014 Incubator Network of the Year by the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org.

Events



  • Most Popular Stories

    • (IIB Photo/Alex Brown)

      India Wants to Partner with Indiana on Sports

      Indiana Secretary of Commerce Jim Schellinger says a recent trade trip to India included a rare meeting that produced some interesting results.  Schellinger and Governor Eric Holcomb were granted an audience with Indian Prime Minister Narendra Modi.  “We were taken aback at how well he knew Indiana,” said Schellinger. “He knew our (economic) background, our educational background, our history of sports statewide,” said Schellinger, who added...

    • (Image courtesy of Indiana State University)

      ISU 'Dreams' of Major Sports Facilities Improvement

      When Indiana State University developed a master plan for its campus, it didn’t include sports and athletic facilities. That’s about to change.  The university this week revealed a major plan for their sports facilities, according to a report from The Tribune Star of Terre Haute. 

    • Circling Back on WeWork

      Back in July when we first discussed WeWork, this fast-growing but money-losing venture was one of the most talked-about IPOs in years. At that time, we noted that it was too early to say what would happen, but “it should be very interesting to watch it all play out.” Turns out, that was a massive understatement!

    • (Image Courtesy: Purdue Agricultural Communication)

      Slow Harvest in Indiana, Mixed Yield Estimates

      As fall harvest rolls along across the Corn Belt, the U.S. Department of Agriculture has updated its predictions of the size of the nation’s corn and soybean crops. In Indiana, the data shows the state’s corn yield has improved, while soybeans dropped over the past month. 

    • Lauren Petersen and Johna Norton

      United Way Names New Board Members

      United Way of Central Indiana has elected Lauren Petersen (pictured) and Johna Norton (pictured) its newest board members. Petersen currently serves as TechPoint’s senior director of relationship management. She graduated summa cum laude from Ball State University in 2011 where she earned a bachelor’s degree in urban planning and development. Norton serves senior vice president, Global Quality for Eli Lilly and Co.