Nevada biotech company joins UArizona accelerator program
A Las Vegas-based biotech company is expanding operations to Oro Valley after winning a coveted spot in the University of Arizona Center for Innovation’s accelerator program.
CellMedics Inc. was selected from a pool of applicants in the UACI Sponsored Launch competition, held in partnership with the Oro Valley Chamber of Commerce and the Town of Oro Valley. The company will join UACI at Oro Valley in the fall, according to a University of Arizona release.
“As a proud University of Arizona alumnus, I’m thrilled to bring CellMedics to the dynamic bioscience ecosystem in Oro Valley,” Scott Shapiro, CEO of CellMedics Inc., said in a statement. “This region, with its impressive biotech and biopharma presence — particularly Roche — offers unparalleled opportunities for collaboration and innovation.”
CellMedics makes a patented topical cream for pain relief associated with arthritis, strains and sprains, bursitis and tendonitis, according to the company’s website. It also holds patents for transdermal and ocular drug delivery systems.
UACI selected CellMedics for the accelerator program based on its “commitment to commercializing its innovative and patented technologies and developing a scalable business model,” according to the UACI.
CellMedics will receive a year of sponsored admission at UACI, which includes a structured incubation program, office and lab space, customized business support and access to expert guidance and networking opportunities.
“We are thrilled to welcome CellMedics Inc. to the Oro Valley community,” Kristen Sharp, president and CEO of the Oro Valley Chamber of Commerce, said in a statement. “The support and resources provided through the UACI incubation program will be instrumental in helping CellMedics achieve their goals and we look forward to seeing their positive impact both locally and globally as they grow and thrive here in Oro Valley.”
Shapiro has established a collaborative research agreement with the university and will work alongside Todd Vanderah, professor and department head of pharmacology at the University of Arizona’s College of Medicine.
The collaboration will focus on research and development, efficacy testing, and National Institutes of Health grant applications for CellMedics’s patented transdermal cream, which contains various active pharmaceutical ingredients for treatment of inflammation, arthritis and pain.
“We are excited to advance our transdermal therapeutic solutions in collaboration with the University of Arizona,” Shapiro said. “Oro Valley is not just a beautiful town; it’s a vibrant hub for scientific progress, and we look forward to contributing to and thriving within this community.”
The UACI is a startup incubator network with locations throughout southern Arizona. It has served more than 300 companies and thousands of entrepreneurs who have raised a total of $105.8 million in capital.