Research and Entrepreneurship
Thorp was awarded a Presidential Young Investigator Award in 1991 by the National Science Foundation, which provided $100,000 of research funding annually for five years. Later in 1991, Thorp was one of 20 people awarded a grant by the David and Lucile Packard Foundation; the $500,000 fellowship was for research on compounds used in genetic therapy. Both grants were for research to develop cancer and AIDS drugs as alternatives to chemotherapy.
In 1996, Thorp co-founded biotechnology company Alderaan Diagnostics, later renamed Xanthon, Inc., to commercialize a technology he co-developed. The technology involved using electricity to test compounds that could later become new drugs. It was intended to turn a process that previously took months into an electronic process that would instead take hours. In 2001, Thorp was recognized by Fortune Small Business as a Small Business Innovator for the work that led to the founding of the company. Xanthon raised several rounds of venture capital, totaling $25 million, before folding in 2002, after technical glitches had delayed release of its commercial product and it could not find further funding.
In 2005, Thorp co-founded Viamet Pharmaceuticals, another biotechnology company, to develop treatments for cancer and other diseases. It raised $4 million in venture capital funding in 2007, and an additional $18 million in 2009. Thorp is no longer involved in operation of the company.
Thorp is a member of the scientific advisory board of Ohmx, a biotechnology firm based on technology developed by his doctoral mentor, Harry B. Gray. He was previously a venture partner at Hatteras Venture Partners, co-founded by his brother Clay. He gave up that role after being named chancellor of UNC in 2008, and his equity stake in the firm was transferred to a blind trust.
Thorp is a member of the UNC Lineberger Comprehensive Cancer Center.
Read more about this topic: Holden Thorp
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