Thursday, March 22, 2007

PLx Pharma and Molecular LogiX Awarded $2.8M in Grants

Texas Governor Rick Perry recognized PLx Pharma Inc. and Molecular LogiX Inc. Tuesday as winners of commercialization grants totaling some $2.8 million. The awards, part of the Texas Emerging Technology Fund, were selected by the Houston Technology Center and Gulf Coast Regional Center of Innovation and Commercialization. PLx Pharma, a pharmaceutical company, received $2 million to help develop safer and more effective non-steroidal anti-inflammatory drugs. Molecular LogiX Inc., a cancer research firm, received $794,520 to develop a therapeutic cancer treatment. Gov. Perry’s $200 million Texas Emerging Technology Fund was created in June 2005 to assist small- to mid-size technology companies. The Houston Technology Center serves as the Gulf Coast Regional Center of Innovation and Commercialization for the ETF, collaborating with Greater Houston Partnership, area universities, community volunteers and various economic development organizations within the 32-county Gulf Coast region.