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Herndon-Based CIT Backs Neoantigenics; 100th Investment for GAP Funds

The Herndon-based Center for Innovative Technology (CIT) said it has invested an unspecified amount in Neoantigenics, a Charlottesville-based biotech company developing a targeted treatment for cancer. It marks the 100th investment through the organization's GAP Funds, a family of seed- and early-stage investment funds targeting Virginia-based technology, life science and clean tech companies. Neoantigenics was founded in 2012 as a spinout from the University of Virginia, and earlier this year also announced an investment from pharmaceutical giant Pfizer. Brian Pollok, the CEO of Neoantigenics, said his company will use the latest investment to "help us advance to defining an antibody drug agent for pre-clinical development."

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