MicroDose Therapeutx Awarded Four Therapeutic Discovery Grants Totaling approximately $1 million
Non-dilutive grants support development programs in RSV disease, COPD and IBS-C
MONMOUTH JUNCTION, N.J. USA—November 4, 2010—MicroDose Therapeutx Inc. today announced that it was awarded Therapeutic Discovery Project grants, totaling $977,917, by the U.S. Internal Revenue Service (IRS) in support of four major programs the company is currently progressing.
The grants, which target therapeutic discovery projects that show a reasonable potential to result in new therapies to treat areas of unmet medical need or prevent or treat chronic or acute diseases, among other criteria, were awarded to MicroDose to support four internal projects, two of which are highlighted below:
- MDT-637 – Treatment of Respiratory Syncytial Virus (RSV)
- MDT-006 – Treatment of Gastrointestinal Diseases
Commenting on the award, John Krall, Sr. Director of Finance at MicroDose said, ““We are poised to make a significant impact in these important therapeutic areas. Being selected against steep odds to receive these grants is an honor for our Company, and the funds will enable MicroDose to move at a more rapid pace toward achieving our goals.”
This award comes on the heels of MicroDose being selected by NJBIZ as one of New Jersey’s 2010 Fifty Fastest Growing companies, an award MicroDose will receive on November 15th.
RSV (respiratory syncytial virus) is a highly contagious virus that infects over 90% of children worldwide during the first two years of life and for which there are currently no vaccines nor any effective treatments available. RSV causes considerable morbidity and mortality in infants, the immuno-compromised, the elderly, and those with asthma and COPD, and in 2009 the New England Journal of Medicine deemed ‘its control a worldwide priority’. MDT-637 is a clinical stage, anti-viral product that has been shown to effectively block RSV infection both in vitro and in animal models for RSV infection. MDT-637 acts by targeting the viral fusion protein, which is the only validated target for RSV treatments. The compound is inhaled, which allows for rapid delivery to the site of virus infection, and has been shown to be safe and well tolerated in multiple human safety trials. MicroDose is developing MDT-637 as a dry powder for inhalation via its novel dry powder inhaler (DPI).
About MDT-006, constipation and IBS-C (irritable bowel syndrome with constipation)
Irritable Bowel Syndrome and constipation afflict an estimated 20 to 50 million US adults and according to Datamonitor, is one of the top 10 reasons for visits to primary care physicians. MDT-006 is a novel, highly selective, non absorbed, small molecule. MDT-006 works by activating of the P2Y2 receptor which stimulates chloride ion secretion into the gastrointestinal tract, a clinically validated mechanism to increase fluid secretion and accelerate gastrointestinal motility. MDT-006 may represent a novel and effective treatment for patients suffering from chronic constipation and IBS-C and in addition has demonstrated application in the treatment of cystic fibrosis and dry eye syndrome.
About MicroDose Therapeutx
MicroDose Therapeutx is a privately-held specialty pharmaceutical company dedicated to improving the quality of life for people suffering from serious diseases. The company focuses on developing proprietary products that address large unmet market opportunities, and on drug delivery platforms for the pulmonary, oral, and transdermal delivery of medications. The company develops its products and technologies independently, as well as in partnership with leading pharmaceutical companies. More can be found at our website; www.mdtx.com.
Judith Fleischer, Ex Machina D x M, 908-469-0554 or firstname.lastname@example.org