Executive sorry for $11 million grant gaffe
Tax funds were given to firm without review.
By Laylan Copelin
The chief executive of the state’s cancer-flghting agency apologized Wednesday for mistakes, including awarding $11 million of taxpayer money to a biotech flrm two years ago without the required review by business and scientiflc experts.
But Bill Gimson also urged the 11 directors of the Cancer Prevention and Research Institute of Texas to consider the mistake in historical context. He painted the picture of a new agency, being built from scratch and with $300 million a year to spend, even as it rushed to encourage the California startup, Peloton Therapeutics, to move to Dallas.
“This was CPRIT’s opportunity to land a company,” Gimson said. “Admittedly we didn’t have checks and bal-