Cancer Prevention and Research Institute of Texas

The Cancer Prevention and Research Institute of Texas (CPRIT) is a state agency established in 2007 by Texas voters. Its primary mission is to fund cancer research and prevention programs across Texas, aiming to accelerate the development of new cancer treatments and prevention strategies. Initially authorized to issue $3 billion in bonds, Texas voters approved an additional $3 billion in 2019, bringing the total authorized funding to $6 billion dedicated to the fight against cancer.

CPRIT operates through three main grant programs: Academic Research, Prevention, and Product Development Research. The Product Development Research program is particularly relevant to the venture capital landscape, as it focuses on attracting and expanding cancer research and product development within Texas. This program provides non-dilutive grants to companies and institutions to advance promising cancer therapies, diagnostics, and tools from discovery through clinical development and commercialization, thereby fostering a robust biotech ecosystem in the state.

Since its inception, CPRIT has awarded over $3.2 billion in grants to various entities, including academic institutions, research organizations, and private companies. These grants are designed to support a wide spectrum of projects, from early-stage scientific discoveries to late-stage clinical trials and commercialization efforts. The funding aims to bring innovative solutions to cancer patients faster, while also creating jobs and economic growth within Texas's life sciences sector. CPRIT's unique model as a state-funded grant-making body plays a crucial role in de-risking promising technologies and bridging the gap between research and market readiness.