UPMC Makes $1 Million Investment in ZelleRX

The University of Pittsburgh Medical Center will make a $1 million, in-kind investment in ZelleRX to develop cancer treatments. In-kind investments include costs incurred for resources that are essential for the proposed project, such as equipment, materials, real estate, personnel and professional service fees. In a news release, UPMC said the donation will be made in exchange for equity in ZelleRX, which is developing cancer treatments based on its proprietary natural-killer cell line.

Pittsburgh Business Times (http://www.bizjournals.com/pittsburgh/stories/2005/02/07/daily1.html)