AndroBioSys: Kinex, AndroBioSys a tale of two investments for the Oishei Foundation

The John R. Oishei Foundation is known locally for being one of the largest and most active philanthropic entities in Western New York. But several years ago, the foundation briefly dipped its toes into venture capital, committing a total of $300,000 into two local biotech companies. One investment, AndroBioSys, was a near total failure and the other, Kinex Pharmaceuticals, a huge hit, highlighting the boom-or-bust nature of biotech investment. "We're batting .500 at the moment," said Paul...