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Archive for Tuesday, March 20, 2012

Kansas Bioscience Authority approves spending on painkiller

March 20, 2012

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The Kansas Bioscience Authority’s Investment Committee on Monday approved an investment of more than $126,000 for a Kansas City, Kan.-based company to develop an injectable version of a painkiller.

The committee approved the matching grant investment for Orbis Biosciences, located in the Bioscience and Technology Business Center at Kansas University Medical Center.

The new painkiller would be effective for five to seven days with one dose.

The investment will be matched by a federal grant of more than $253,000.

At the same meeting, the investment committee failed to take action on two other proposals, sending them back to its staff for further review.

David Vranicar, interim president and CEO of the authority, didn’t reveal the identities of the applicants for funding, and the committee discussed the requests in closed session.

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