Paramita Therapeutics Secures Federal Research Funding to Advance Multivalent Cancer Drug Platform

Paramita Therapeutics, Inc., an early-stage biotechnology company based in San Diego, is advancing the development of novel targeted cancer therapies with the support of non-dilutive research funding from major U.S. government agencies. Founded in 2018 by Dr. Sang Van and Dr. Jack Bui, the company is focused on building a proprietary multivalent drug conjugate (MDC) platform designed to improve the precision and efficacy of cancer treatments while reducing damage to healthy tissue.

Rather than pursuing traditional venture capital financing in its early years, Paramita Therapeutics has relied on competitive federal research grants to fund its scientific progress. This approach has enabled the company to advance high-risk, high-reward research programs while retaining full ownership of its technology and intellectual property. The company’s funding history reflects growing institutional confidence in its platform and therapeutic strategy.

In July 2021, Paramita Therapeutics was awarded a $255,990 Small Business Innovation Research (SBIR) grant from the National Science Foundation. The funding supported early-stage research into the company’s multivalent chemical conjugation technology, including development of a dual-function therapeutic and vaccine candidate known as TheraVax™. The award recognized the potential of Paramita’s approach to simultaneously block disease pathways and stimulate immune responses through precisely engineered molecular constructs.

Building on this momentum, Paramita Therapeutics secured additional federal funding in November 2025, when it received a Phase I SBIR grant totaling $353,009 from the National Cancer Institute, part of the U.S. National Institutes of Health. This grant is supporting the preclinical development of prostate-specific membrane antigen (PSMA)-targeted multivalent drug conjugates aimed at treating advanced prostate cancer. The funding is intended to help the company complete key research milestones, including efficacy and safety studies, positioning Paramita to pursue a larger Phase II SBIR award.

Together, these grants form the core of Paramita Therapeutics’ external funding to date. As non-dilutive capital, the SBIR awards allow the company to pursue foundational research without issuing equity, a common strategy among early biotechnology companies working on complex therapeutic platforms that require extensive validation before attracting institutional investors or pharmaceutical partners.

In addition to public funding, Paramita Therapeutics has received early financial support from its founding team and internal stakeholders. The company’s founders, Sang Van and Jack Bui, have personally invested in the business during its pre-seed stage, alongside business development executive Sue Zhong. These internal investments helped fund initial platform development, proof-of-concept work, and early laboratory studies prior to securing federal grants.

Paramita’s MDC platform is designed to enable simultaneous targeting of multiple disease mechanisms, an approach that could offer advantages over single-target therapies in oncology. The company is applying this technology across several cancer indications, with a current emphasis on prostate cancer and exploratory work in other solid tumors such as ovarian cancer. Grant funding is being used to advance preclinical studies, optimize conjugate design, and generate the data required for future regulatory submissions.

The company’s progress highlights the role of government-backed research funding in supporting innovation at the earliest stages of drug development. By securing competitive SBIR awards from both the National Science Foundation and the National Cancer Institute, Paramita Therapeutics has been able to validate its scientific approach, build technical credibility, and sustain research operations during a critical phase of development.

As Paramita continues to advance its pipeline, the company is expected to pursue additional Phase II grant funding, strategic research collaborations, and potential partnerships with larger biotechnology or pharmaceutical organizations. While it has not yet announced venture capital rounds, its ability to attract repeated federal funding positions it for future growth as its therapeutic candidates mature.

With a focused funding strategy, founder-backed investment, and continued support from leading scientific institutions, Paramita Therapeutics is laying the groundwork to translate its multivalent drug conjugate platform into next-generation cancer therapies.