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Business

Grant from Texas prompts biotech to move

by Michael McCoy
November 28, 2016 | APPEARED IN VOLUME 94, ISSUE 47

The biotech firm Ruga Corp. has changed its name to Aravive Biologics and moved from Palo Alto, Calif., to Houston after receiving a $20 million grant from the Cancer Prevention & Research Institute of Texas (CPRIT). The product of a 2007 state constitutional amendment, CPRIT has to date awarded $1.7 billion to Texas researchers. Aravive will be based at the Texas Medical Center, where it will develop Aravive-S6, a fusion protein designed to block a signaling pathway active in acute myelogenous leukemia.

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