Local Company Looks for Funding to Fight Cancer

October 15, 2010 Updated Oct 15, 2010 at 12:11 PM EDT

By WKBW Programming

October 15, 2010 Updated Oct 15, 2010 at 12:11 PM EDT

Kinex Pharmaceuticals develops cancer fighting drugs right here in Buffalo. A report in today's Business First shows how the company hired a New York City investment banking firm to secure $30 million in Series B Funding. The report says the money will be used for staffing, clinical studies and to get a compound to a new drug stage. Company officials say they believe if they can raise $30 million, they can be profitable and that would be the end of the fundraising. Kinex employs 15 people on Ellicott Street.

Last week, we told you how border crossings are on the rise. Now a report in today's Business First says Canadian attractions and hotels are enjoying an upswing. The Ontario Ministry of Tourism and Culture says the number of Americans visiting Ontario is on the rise as people get over confusion about border-crossing documentation. Niagara-on-the-Lake tourism officials say U.S. tourists will make up more than 41% of overnight visitors this year after a big drop last year.

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