Deciphera drug could be out in 2011
City leaders recently agreed to give Deciphera a multimillion dollar package to stay in Lawrence. The pharmaceutical company announced today that major testing on a cancer treatment drug should begin this spring. Enlarge video
Deciphera Pharmaceuticals
- Bioscience firms taking root (11-01-07)
- City: Deciphera tax break not handled well (10-27-07)
- City, county may be responsible to pay $1.5M of company's grant even if it moves (10-27-07)
- Deciphera deal eluded public scrutiny (10-25-07)
- City upholds agreement reached with Deciphera (10-24-07)
- Retired Pfizer executive joins Deciphera board (08-31-07)
A start-up pharmaceutical company that community leaders recently agreed to give a multimillion-dollar package to keep in Lawrence could have its first drug on the market in four years, its CEO said Wednesday.
Dan Flynn, CEO of Deciphera Pharmaceuticals, told a Lawrence Chamber of Commerce crowd that major testing on a cancer treatment drug should begin this spring.
"If everything went well, I would just love to see a Deciphera drug out there in 2011," Flynn said. "I know that sounds like a long time, but actually it is a fast-track."
But Flynn wasn't interested in answering several basic questions about his company's more immediate plans, despite it being awarded more than $3 million in cash incentives from the city, county, Kansas Bioscience Authority, Douglas County Development Inc. and Lawrence-Douglas County Bioscience Authority.
Flynn declined to comment on when his company hopes to move into a vacant building in the East Hills Business Park, which is part of the incentives package approved last week. Flynn also declined to comment on how many employees his company currently has - or to provide additional details about what stage of development his company's drug projects currently are in.
Flynn was cryptic in why he didn't want to answer the basic questions. Flynn told a Journal-World reporter that he had no comment before any questions were asked.
All he would say: "I'm protecting my interests."
The process the Deciphera incentives package went through has come under scrutiny since its approval last week. The package included a tax rebate program - the first of its kind in Lawrence.
The tax rebate is similar to a tax abatement, but Deciphera's tax rebate program did not go through any of the review or process that is required for a tax abatement.
Flynn, during his remarks to the chamber crowd, praised the city for offering the package.
"It is an innovative strategy, a little outside the box for Lawrence, but I really applaud it," Flynn said.
Flynn was part of a Chamber-sponsored luncheon detailing bioscience companies in Lawrence.
Comments
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monkeyhawk (anonymous) says…
Is it possible that the "new employees" will actually be contract labor from outside of the area?
jimmyspeachbaskets (anonymous) says…
Another pulitzer effort from Chad Lawhorn: let's not focus on the fact Lawrence is home to a company who is curing cancer instead opting for yet another trite story on the local incentive game.
snake_eyes (anonymous) says…
this is typical of LJworld readers Jimmy. people love to comment and rip on things they know very little about
smitty (anonymous) says…
**Flynn also declined to comment on how many employees his company currently has **
One for sure, Hack. Sub-CON-tractors, the remanining city commissioners!!
**Flynn was cryptic in why he didn't want to answer the basic questions. **
Investors no longer needed so why answer the questions?
Ragingbear (anonymous) says…
Not to mention that Lawrence will be known as the place where that "fast tracked" drug caused a generation of flipper babies or cause AIDS to mutate to an airborne virus or something.
fetch (anonymous) says…
I am all for biosciences research, and confidentiality to protect intellectual property, but since when did an approximation of number of employees from an organization getting public support become a trade secret never to be mentioned? That just strikes me as wrong.
pdecell (Paul Decelles) says…
I can appreciate the need for a company to keep some things about its operation confidential but we in Lawrence, through the City Commission, ARE investors here. Were I wanting to invest in the company, I would want to know basic corporate information. And Hawk, I am glad someone else remembers "Culture Farms".
Fetch, the situation isn't just wrong...it smells. None of the City commissioners who went for this deal will ever get my vote again.
TJ_in_Lawrence (anonymous) says…
There are companies in Lawrence that are just as deserving of the city's "tax breaks", funny, but they never even look at some of the ones right here in town that are growing. I guess the grass is greener when you import it from Boston and give away what little tax income you get from it I'll make a prediction. This company will not launch a cancer treatment drug in 4 years or 8 years in Lawrence. They won't stick around Lawrence long enough for that to happen. They will have gotten their tax break to let them get a good start and then off to somewhere else when the investment might start actually bringing in some money to the local economy. After all, Mr. CEO left one locale for $$$. This pattern will repeat itself.