PruGen IP Holdings, Inc. Awarded a Grant Under the U.S. Government’s Qualifying Therapeutic Discovery Program

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PruGen IP Holdings, Inc. (PruGen IP) announced today that it has been awarded a grant under the U.S. Government’s Qualifying Therapeutic Discovery Program (QTDP). PruGen IP received the funding for its Oral Bioavailability Enhancement Delivery System (OBEDS), an advanced drug delivery system

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“This grant underscores PruGen IP’s commitment to advancing the field of drug delivery and validates our accomplishments to date in achieving that goal,” said Sean Lonergan, CEO and president of PruGen IP.

PruGen IP Holdings, Inc. (PruGen IP) announced today that it has been awarded a grant under the U.S. Government’s Qualifying Therapeutic Discovery Program (QTDP). PruGen IP received the funding for its Oral Bioavailability Enhancement Delivery System (OBEDS), a technology that increases the uptake and bioavailability of orals in humans and animals without altering the pharmaceutical itself. An IRB approved human proof-of-concept study demonstrated that the OBEDS technology may increase uptake by as much as 250%.

“This grant underscores PruGen IP’s commitment to advancing the field of drug delivery and validates our accomplishments to date in achieving that goal,” said Sean Lonergan, CEO and president of PruGen IP. “This funding will assist us in moving forward with our research into our first targeted area of interest, the improved delivery of cardiovascular and cholesterol lowering drugs. From there, we will continue our work in expanding the technology’s application to other pharmaceuticals, nutraceuticals, medical foods, and vitamins and minerals.”

The $1.0 billion QTDP Program is distributed to companies with fewer than 250 employees whose research shows the greatest potential to result in new therapies that address areas of unmet medical need, could prevent, detect or treat chronic or acute diseases and conditions, and could significantly advance the goal of curing cancer within 30 years. Awards also took into consideration research that demonstrates the greatest potential to create and sustain high-quality, high-paying U.S. jobs and to advance U.S. competitiveness in life, biological and medical sciences, along with research that promises to reduce the long-term growth of health care costs in the U.S.

ABOUT PRUGEN IP HOLDINGS, INC.

PruGen IP Holdings, Inc. is a pharmaceutical product research & development, acquisition, and licensing company. Founded in 2008, PruGen IP Holdings, Inc. currently holds the rights to four 510k cleared products for which it has entered into revenue producing license agreements. The Company filed an ANDA in the second quarter of 2010 and will file a second ANDA application in the fourth quarter of 2010.

Currently, PruGen IP Holdings, Inc. owns the rights to 15 innovative pharmaceutical formulations, nine of which have current US and PCT patent applications pending. Patent applications for the remaining products will be filed in late 2010 and early 2011. All 15 formulations are in active stages of development including R&D, human clinical studies, FDA filings, or final commercial development.

The Company seeks prescription drug products and partners interested in co-development, licensing or sale of novel prescription drug formulations or ANDA registrations.

Current PruGen IP Holdings, Inc. proprietary product partner opportunities include the following areas: Onychomycosis, Tinea pedis, Acne, Drug delivery, Seborrheic Dermatitis, Hypertriglyceridemia, Atopic Dermatitis, and Rosacea.

Interested parties should contact Sean Lonergan, CEO and president, at slonergan(at)prugen(dot)com.

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