This award is a scientific endorsement of the potential utility of AmyTrap as an effective and safe molecule for Alzheimer's disease.
Chesire, Connecticut (PRWEB) January 06, 2017
Recombinant Technologies, LLC, an emerging biotechnology company focused on developing therapeutics for neurodegenerative diseases, announced today that the National Institutes of Health has awarded the company a Phase II grant under the Small Business Innovation Research (SBIR) program.
The award represents over a million dollars for two years, with a possibility of an additional one year extension. The award will support the pre-clinical development of the company’s patent-protected lead and novel therapeutic candidate, AmyTrap, for the treatment of Alzheimer’s disease.
The results from this research will allow the company to file an Investigational New Drug [IND] application with the FDA. Upon approval by the FDA, additional clinical development activities could be pursued. Recombinant Technologies is currently reaching out to industry leaders and potential partners to secure additional funding to accelerate the clinical development plan.
"This award is a scientific endorsement of the potential utility of AmyTrap as an effective and safe beta-amyloid sequestering molecule. We are aware that several anti-beta-amyloid based therapeutics have failed in clinical development. However, with unique features, AmyTrap differentiates itself from the failed anti-beta-amyloid antibodies. The grant will allow us to implement plans to develop AmyTrap to meet the safety standards required by the FDA to treat Alzheimer’s disease," said Pazhani Sundaram, Founder-President & CEO of Recombinant Technologies. Dr. Sundaram is also the inventor of the drug and is the principal investigator for the research grant.