January 10, 2022

ROCKVILLE, Md.–(BUSINESS WIRE)–Hibiscus BioVentures, a firm committed to building patient-focused companies around transformative technologies, today announced it has entered into a partnership agreement with the Detroit-based Barbara Ann Karmanos Cancer Institute (Karmanos). This partnership between Hibiscus’ venture studio, Hibiscus BioTechnology, and Karmanos seeks to leverage the combined resources of the two organizations to develop innovative therapeutics for the treatment of cancer. Karmanos is one of only 51 National Cancer Institute (NCI)-designated Comprehensive Cancer Centers in the country.

“We are excited to advance this patient-centric approach by leveraging the highly-respected development resources at Karmanos,” said Chris Jeffers, CEO of Hibiscus BioTechnology. “As translational and clinical research partners, this collaboration is focused on combining programs, capabilities and infrastructure from Hibiscus Biotechnology’s Studio Companies with Karmanos’ vast clinical research and development resources to advance cancer therapies and address unmet patient needs.”

Hibiscus BioTechnology Studio Companies each have financial and executive guidance and operating support to advance a broad range of science and technology development programs and address unmet patient needs. The collaboration with Karmanos will bring emerging Hibiscus BioTechnology Studio Companies valuable clinical resources, including laboratory and research access, scientific and thought leadership, clinical development strategy and access to the robust network of Karmanos hospitals to more rapidly advance cancer care.

“Working with emerging companies to bring innovation into the clinic is critical to help drive new cancer therapies closer to patients,” said Elisabeth Heath, MD, FACP, associate center director of Translational Sciences and leader of the Genitourinary Oncology Multidisciplinary Team at Wayne State University and Barbara Ann Karmanos Cancer Institute. “We believe the combined resources and mission that Karmanos and Hibiscus share will bring new hope and new tools to cancer treatment.”

About The Barbara Ann Karmanos Cancer Institute The Barbara Ann Karmanos Cancer Institute is a leader in transformative cancer care, research and education through courage, commitment, and compassion. The Karmanos Cancer Institute’s vision is a world free of cancer. As part of McLaren Health Care, Karmanos is the largest provider of cancer care and research in the state of Michigan. For more than 75 years, the administrative and research headquarters, along with the premier specialty cancer hospital, have been located in downtown Detroit. 15 network sites throughout the state deliver market-leading cancer care and clinical trials conveniently to the communities where many of its patients live. Karmanos is recognized by the National Cancer Institute as one of the best cancer centers in the nation.

Learn more about Karmanos Cancer Institute at karmanos.org.

About Hibiscus BioTechnology Hibiscus BioTechnology, a venture studio focused on building “Studio Companies” based on innovative technologies, engages in the process of building new companies by obtaining rights to technologies with the promise of underpinning development programs that can improve human health. Technologies, products, and business models are typically selected and designed to reach proof of concept or a meaningful clinical inflection within one to three years, representing significant potential value creation.

About Hibiscus BioVentures Hibiscus BioVentures (Hibiscus) is committed to advancing patient care by supporting the development of commercially viable therapies – building patient-focused companies around transformative technologies. Hibiscus has “two sides of the house,” a Venture Studio focused on building companies from the ground up, and a Venture Capital Firm focused on investing in promising early-stage biotechnology companies. Hibiscus brings years of experience building and investing in biotechnology companies and is led by a team of industry experts who can bring the resources necessary to successfully develop new therapies that address unmet patient needs.

Learn more about Hibiscus Biotechnology and Hibiscus BioVentures at hibiscusbio.com.

Contacts Media: Shani Lewis LaVoieHealthScience Email: slewis@lavoiehealthscience.com Phone: 609-516-5761

Tamara Collins Karmanos Cancer Institute Email: collinst@karmanos.org Phone: 734-476-9330