Photolitec

About Photolitec

Based in Buffalo, New York, Photolitec, LLC operates within the biotechnology sector, focusing on the development of advanced agents for cancer imaging and therapy. Founded in January 2010, the company emerged as a spin-off from the Roswell Park Comprehensive Cancer Institute (RPCI), a pioneering institution in photodynamic therapy (PDT). The company's foundation is built upon the extensive research of Dr. Ravindra K. Pandey, who serves as the Founder and Chief Scientific Officer. Dr. Pandey is a Distinguished Professor at RPCI and has dedicated his career to developing compounds for tumor imaging and PDT, holding numerous patents and having published extensively in the field. Co-founder Scott Friedman provides legal and business counsel, leveraging his experience in venture capital and corporate finance.

Photolitec is centered on creating photosensitizing compounds that address the limitations of existing agents used in cancer treatment. The core of its business is the development of next-generation PDT agents that also possess imaging capabilities, a concept described as the "see and treat approach". This technology involves a photosensitive compound that is administered and accumulates in cancer cells. When activated by a specific wavelength of laser light, the agent produces a form of oxygen that selectively destroys the tumor cells. A key benefit of Photolitec's compounds is their ability to absorb long-wavelength light, enabling the imaging and treatment of deeper-seated tumors, which has been a significant challenge in the field. Furthermore, these agents are designed to have minimal skin phototoxicity, a major side effect of conventional PDT compounds.

The company's business model involves licensing the technology developed from Dr. Pandey's research at RPCI. In 2015, Photolitec entered a joint venture with Ami Organics Limited to form Ami Onco-Theranostics, LLC, a strategic partnership aimed at advancing the drug discovery and development process to a global commercial stage. This collaboration combines Photolitec's oncology expertise with Ami Organics' financial and production capabilities. The target clientele for Photolitec's products, which are in the advanced development and clinical trial stages, includes imaging companies, hospitals, and healthcare centers. The company's work has been supported by grants and funding, including a grant of $961,000 in September 2020.