Abcon is pioneering a specialized antibody-drug conjugate for T-cell lymphoma, targeting the CD-6 receptor for precise T-cell elimination. Promising animal study results reveal tumor shrinkage, and a crucial partnership with the National Cancer Institute marks a significant milestone. Abcon is committed to innovation and aims to make a meaningful impact on aggressive T-cell lymphoma. As their bookkeeping team, we are proud to contribute to this transformative journey.
Tell Me More About Your Business.
Our client, Abcon, is working on developing a specialized antibody-drug conjugate for T-cell lymphoma treatment.
Abcon's innovative approach targets the CD-6 cell surface receptor on T-cells, linking a toxin to the antibody for precise elimination of dividing T-cells. Abcon’s commitment to innovation is evident in promising animal study results, showcasing tumor shrinkage and metastasis prevention. A significant milestone is their partnership with the National Cancer Institute.
Over the next year, Abcon will collaborate on manufacturing the antibody and ADC, aiming to initiate preclinical tox studies. Committed to addressing T-cell lymphoma, especially its aggressive forms, they're determined to make a meaningful impact on this life-threatening disease. As their bookkeeping team, we take immense pride in contributing to this transformative journey!
What is your biggest challenge?
Managing multiple grants from prestigious institutions like the National Institutes of Health, specifically the National Eye Institute and the National Cancer Institute, has posed a significant challenge for Abcon. Juggling allocations of salary and resources across these grants can be highly intricate. However, working with BudgetEase has proven instrumental in addressing this challenge. The platform has provided invaluable assistance in efficiently and accurately allocating diverse expenses and incomes to the respective grant programs, streamlining the complex task of managing multiple grants simultaneously.
What Lead you to BudgetEase?
As a CEO for multiple pharmaceutical startups in my career, I have found various ways of managing finances, including doing it myself. Because of the complexities of the funding for Abcon with Grants, and my prior relationship with BudgetEase, having them as a partner was the best option.
Why Do You Find Having Someone Else Do Your Bookkeeping Helpful?
Having someone else handle our bookkeeping has proven to be immensely beneficial for various reasons. Abcon's association with the National Institutes of Health demanded a robust checks and balances system. The National Cancer Institute and the National Eye Institute emphasized the importance of avoiding conflicts of interest, particularly in handling financial transactions. With the integration of BudgetEase, we've established a meticulous review process. We use Melio and BudgetEase to provide an efficient system for managing expenditures. I examine every bill to ensure accuracy and then easily forward it to QBO. BudgetEase enters bills. Finally, bills are approved only after verification. This detailed process serves as a reliable check and balance mechanism, instilling confidence in the proper allocation and expenditure of funds for both the Cancer Institute and the Eye Institute.