A founding scientist and previous vice president of the pharmaceutical company Incyte is growing his next venture in Delaware.
The state Council on Development Finance (CDF) voted Monday to recommend a performance-based grant package for Prelude Therapeutics. The company was launched by Kris Vaddi in July 2016, with the aim of creating a leading cancer drug discovery-based biotech company.
With assistance from the Delaware Division of Small Business, Development & Tourism, company officials said they plan to add around 30 staff members and move to a new, larger location in Delaware.
“There’s certainly the pressure of expectations, but we are driven by science and the possibility of making a difference in cancer care,” said Vaddi. “If you do good science with clear goals, the rest will happen. I truly hope we can create the next successful biotech company for Delaware.”