Eureka Alert

EDMONTON (October 9, 2018) – The Canadian Glycomics Network (GlycoNet) awarded $90,000 in grants to three Alberta-based startup companies: 48Hour Discovery Inc., GlyCa BioSciences Inc. and PanTHERA CryoSolutions Inc.

The Startup Company Funding Program recognizes the needs of start-up companies and provides financial help to increase their chances of success. The financial support can be used for the recruitment of business development staff, for leveraging funding from other sources, and for patent protection and licensing activities. All three awarded companies were created based on technologies developed through GlycoNet-funded research.

“It’s important for GlycoNet to help the creation of glyco-based startup companies and increase their chances of success” says Dr. Elizabeth Nanak, Executive Director, GlycoNet. “This funding program is an integral part of our commercialization strategy. Ideally, we want to see innovative technologies translated into tangible outcomes within the next 5-10 years.”

48Hour Discovery Inc.
Total grant: $20,000

48Hour Discovery Inc. (48HD) accelerates the drug discovery process by providing ligand screening services within just 48 hours. The company received $20,000 for patent filing payments.

“Commercialization grant opportunities, such as the ones available at GlycoNet, are essential for the sustainable growth of early entrepreneurial enterprises,” says Dr. Ratmir Derda, President, 48HD. “As


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