Pendant Biosciences is developing a surface coating and drug delivery technologies through a polymer-based platform. The Nashville, Tenn.-based company said it is initially focused on developing applications within the orthopedic market.
The company’s lead product candidate is a surface modification intended to reduce risk associated with certain orthopedic transplants, which it said has the potential to operate in multiple therapeutic areas.
“We are delighted that Pendant Biosciences, which licensed its technology from Vanderbilt University, has been given this exceptional opportunity. The company’s increased footprint in Toronto will, no doubt, be invaluable, and we will be watching their continued progress with great interest,” Vanderbilt Center for Technology Transfer & Commercialization vice chancelor Alan Bentley said in a prepared statement.
The JLABS facility in Toronto is a 40,000-square foot center where start-up companies in medtech can develop their technologies without J&J taking an equity stake in the companies, Pendant Biosciences said.
“We are excited to become part of the JLABS @ Toronto community, and are honored to be the first Tennessee-based company to join this unique and dynamic life science ecosystem. Acceptance into JLABS perfectly complements our existing research and development activities being conducted with our academic collaborator and partner, Christine Allen, Ph.D., Professor and GSK Chair in Pharmaceutics and Drug Delivery at the University of Toronto, and serves to expand our presence in this important life science hub. As an early-stage company, Pendant Biosciences and its team gain immediate access to, and the ability to collaborate with, the Johnson & Johnson Innovation network, industry experts with unparalleled translational research and commercialization experience, as well as key life science investors who can help us drive development of our product candidates,” Pendant Biosciences founder & CEO Shawn Glinter said in a press release.