SBIR proposals and technology are closely vetted at NIH prior to issuing a grant.
Charlotte, NC (PRWEB) September 13, 2010
Countervail Corporation announces receipt of a $346,000 grant award from the National Institutes of Health / National Institute of Neurological Disorders and Stroke for the Phase 1 portion of a Fast Track SBIR grant proposal. The SBIR Phase 1 studies are targeted toward moving Countervail’s drug, AverTox™, closer to commercial availability.
“SBIR proposals and technology are closely vetted at NIH prior to issuing a grant.” says Bill Basinger, Countervail CEO. “The SBIR award is a clear signal that the drug technology and commercialization opportunity for AverTox™ passed the scrutiny of NIH experts to warrant this funding support.” Successful completion of the performance milestones for Phase 1 will position Countervail for SBIR Phase 2 funding under NIH Fast Track SBIR guidelines.
Preliminary research at the University of Maryland, School of Medicine has shown support for the use of AverTox™ as an effective protectant against exposure to organophosphorus based toxins found in some of the most dangerous and feared chemical agents and insecticide poisons. Agents most feared to be used as possible weapons of mass destruction (Soman, Sarin and VX gas) are based on organophosphates (OP). In addition many commercial pesticides are based on organophosphates due to their effectiveness and low cost.
Countervail Corporation is an early stage US based company formed in June 2007 and focused on the protection of our military and civilian populations from chemical and biological toxins. The project described in this press release is being supported by Award Number R44NS068049 from the National Institute Of Neurological Disorders And Stroke. The content of this press release is solely the responsibility of the authors and does not necessarily represent the official views of the National Institute Of Neurological Disorders And Stroke or the National Institutes of Health.