August 24, 2025 - by Timothy Alexander

NEWARK, DE — CorriXR Therapeutics, Inc. has secured a $1 million investment from the State of Delaware to accelerate its development of next-generation treatments for solid tumors, including head and neck and lung cancers. The funding marks a major milestone for the company as it prepares to move its lead program toward clinical trials.

The investment comes through the Delaware Accelerator & Seed Capital Program (DASCP), part of the State Small Business Credit Initiative (SSBCI), which is funded by the U.S. Treasury Department. Administered by the Delaware Division of Small Business, the SSBCI program allocates $60.9 million to provide early-stage businesses with access to capital and growth opportunities.

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CorriXR will use the funds to complete preclinical studies, scale up manufacturing, and prepare its investigational new drug (IND) submission. “We’re excited to have the State of Delaware participate in our Series A financing round as we advance toward our first-in-human clinical trial,” said Eric Kmiec, Ph.D., founder and CEO of CorriXR. “This investment will be critical as we complete preclinical studies, scale-up manufacturing, and prepare our investigational new drug (IND) submission.”

State officials hailed the investment as a key step in positioning Delaware as a regional hub for biotech and innovation. “Our first $1 million investment is proof that Delaware’s path to becoming the Mid-Atlantic hub for innovation is well underway,” said CJ Bell, director of the Delaware Division of Small Business.

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Governor Matt Meyer highlighted CorriXR’s collaboration with the Gene Editing Institute, noting the company’s role in advancing CRISPR-based therapies. “This is how Delaware wins the future,” Meyer said. “CorriXR is demonstrating the power of turning research into real solutions.”

The funding underscores Delaware’s commitment to supporting innovative startups while fostering advancements in healthcare and biotechnology that could have a global impact.

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