CPRIT Knowledge Check

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CPRIT Knowledge Check Quiz

Test your knowledge of the CPRIT (Cancer Prevention and Research Institute of Texas) and its award programs. This quiz is designed to help you learn about product development awards, eligibility criteria, and the benefits of CPRIT's funding opportunities.

10 engaging questions
Multiple choice, checkboxes, and text questions
Perfect for students, researchers, and professionals interested in cancer research funding

10 Questions2 MinutesCreated by InnovativeMind47

What are the criteria for TXCO/RELCO awards?

Newly established or established companies

Drugs, established lead (IND within a year)

Devices, commercial-ready prototype (IDE within a year)

Diagnostics, may have a research test or LDT

Strong value proposition with preliminary business plan

Likely to have secured independent funds

Deep understanding of the of commercial product development process and marketplace (clinical, preclinical, cGMP, regulatory, statistical, marketing, reimbursement, product management, post-market surveillance, competitive landscape, product life cycle, pipeline development, distribution strategy, partnering strategy)

What is the revenue sharing commitment included as part of the contract?

Diagnostics - 3-5% royalty until 4X the amount is paid; Therapeutics - 3-5% royalty until 2.5X the amount is paid

Diagnostics - 3-5% royalty until 2.5X the amount is paid; Therapeutics - 3-5% royalty until 4X the amount is paid

Diagnostics - 4-6% royalty until 4X the amount is paid; Therapeutics - 4-6% royalty until 2.5X the amount is paid

Diagnostics - 4-6% royalty until 2.5X the amount is paid; Therapeutics - 4-6% royalty until 4X the amount is paid

What are the criteria for a company to be considered Texas-based?

US headquarters in Texas

CEO resides in Texas

Majority of personnel, including 1 C level employee reside in Texas

Manufacturing activities take place in Texas

At least 3 clinical trial sites are in Texas

The company collaborates with a medical research organization in Texas, including a public or private institute of higher education.

At least 90% of grant award funds are paid to individuals and entities in Texas, including salaries and personnel costs for employees and contractors

When do the royalty payments begin and what is the rate reduced to once 2.5X/4X requirement is fulfilled?

Payments begin after $5M in sales; royalty reduced to 0.5%

Payments begin after $10M in sales; royalty reduced to 0.5%

Payments begin after $5M in sales; royalty reduced to 1%

Payments begin after $10M in sales; royalty reduced to 1%

What are the pros of CPRIT's royalty financing?

Revenue sharing so not giving away equity or control

Can incentivize future investors as equity is still available

Investors see returns before the stock is sold (unlike equity financing) and is not dependent on exits

CPRIT offers mentoring and a vast network of resources

Royalty financing can positively impact a company's growth due to a percentage of revenue being reinvested in the company

Not subject to state and federal securities so can avoid lengthy filings and legal fees

Investors are guaranteed a certain amount of profit with royalty financing

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