Tue Dec 11, 2012, 01:46 PM
TexasTowelie (13,354 posts)
State cancer fund director resigns
Bill Gimson, the embattled executive director of the state's cancer agency, announced his resignation Tuesday.
Gimson, the central figure in two questionable grants awarded by agency, was sharply criticized by members of Cancer Prevention and Research Institute of Texas' governing board last week. The board had planned a performance review for Gimson at its January meeting.
"I serve at the pleasure of the CPRIT Oversight Committee.," Gimson said in a statement. "I have submitted my letter of resignation, which has not yet been accepted by the Board."
Gimson offered to remain until the January meeting.
In late November, it was revealed that CPRIT approved $11 million over three years for Dallas-based Peloton Therapeutics without its proposal going through the legally required review.
See earlier story on this topic at http://www.democraticunderground.com/10784956 .
3 replies, 768 views
State cancer fund director resigns (Original post)
Response to TexasTowelie (Original post)
Tue Dec 11, 2012, 02:30 PM
DreamGypsy (2,128 posts)
2. Peloton Therapeutics apparently received a Company Formation Award from CPRIT
and at least in 2013, such an award would have been reviewed.
From CPRIT Funding Opportunities:
Company Formation Awards
Instructions for Applicants
The goal of the Company Formation Awards is to finance the development of innovative products, services, and infrastructure with significant potential impact on patient care.
9. APPLICATION REVIEW
Applications will be assessed based on evaluation of the quality of the Company and the potential for continued product development. CPRIT requires the submission of a detailed business plan (see Section 10.3.5) and a comprehensive scientific plan (see Section 10.3.6). The plans will be reviewed by an integrated panel of individuals with biotechnology expertise and experience in translational and clinical research as well as in the business development/regulatory approval processes for therapeutics, devices, and diagnostics. The review will address the commercial viability, product feasibility, scientific merit, and therapeutic impact, as detailed in the Company’s business and scientific plans.
If this review didn't happen or the results of the review were not considered, then some management FU occurred.
Peloton got another $18M in venture funding so at least the company received some other scrutiny.
This situation doesn't seem like a conspiracy to me. Time will tell with the taxpayers of Texas get a return in jobs, infrastructure, and innovative cancer technology from Peloton. $11M out of a total spending of $700M is not an extraordinary risk.
Response to DreamGypsy (Reply #2)
Tue Dec 11, 2012, 08:10 PM
TexasTowelie (13,354 posts)