NanoValent Pharmaceuticals Awarded NIH SBIR Grants Totaling ~$4 Million
BOZEMAN, Mont. (PRWEB) October 01, 2018 -- NanoValent Pharmaceuticals, Inc., (NanoValent) a development-stage pharmaceutical company advancing targeted antibody drug conjugate (ADC) like, lipid based therapeutics, today announced the National Institute of Health (NIH) Small Business Innovation Research (SBIR) Program had confirmed the award of first year funding for two separate grants. These two grants will allow NanoValent to advance two separate programs into commercial development by providing up to $3,978,152 in funding over the next two and a half years including $1,071,939 approved for the current budget cycle of September 1st, 2018 through August 31st, 2019.
The first grant: NV103: Antibody Conjugated Nanoparticle for Ewing Sarcoma Targeted Therapy Grant Number: 1R44CA233128-01 is a Fast-Track grant that combines a phase one and a phase two grant into one review and approval process covering two and one half years of work. NV103 is an human antiCD99 targeted HPLN (Hybrid Polymerized Liposome Nanoparticles) loaded with irinotecan. Early animal data used to secure this grant already suggests significant activity in tumor types including refractory Ewing sarcoma and hepatocellular carcinoma with very limited toxicity. This program will be carried out primarily with Children’s Hospital Los Angeles (CHLA) where the initial discovery and development occurred under a joint collaboration and license.
The second grant: Targeted Polymerized Shell Microbubbles to Image and Treat Surgical Adhesions, Grant Number: 2R44GM116530-02 is a phase two grant that covers two years of work. This program used our core HPLN technology to create more stable microbubbles for use with ultrasound to image and eliminate the adhesions that are created during surgical procedures. This program was developed and is advancing in collaboration with Boston University (BU) under a joint collaboration and license.
“These grants will enable NanoValent to rigorously validate and extend already observed animal activity and engage all of its commercial manufacturing and development partners in preparation to generate formal toxicity data for Investigational New Drug filings while postponing our series A funding plans” said Timothy Enns, NanoValent's President and CEO, “The SBIR grant program is highly competitive and gaining these awards is significant validation of our platform technology and ability to create and develop novel therapeutic approaches towards treating major unmet medical needs. NanoValent is working with teams of scientists and clinicians at CHLA and BU to utilize the grants and advance this technology.”
Added Dr. Jon Nagy, NanoValent's CSO and Founder: "These awards mark a significant opportunity for NanoValent to prove that our carefully developed and optimized technology can provide highly advantaged product candidates that can be validated in the clinic. With this data in hand, we should be on the cusp of translating the massive potential and flexibility of HPLN based technology."
About NanoValent Pharmaceuticals, Inc.
NanoValent Pharmaceuticals, Inc., founded in 2006, is a privately-held company focused on the development and commercialization of truly targeted, next generation nanoparticle-based therapeutics. The technology platform allows for the creation of targeted, antibody- drug conjugate (ADC) like, products with very potent payloads. Funding has come from direct management investment, seed angel investors and significant grants from the National Science Foundation, the National Cancer Institute and the Montana Chamber of Commerce. The platform technology utilizes cross-linkable lipids to form Hybrid Polymerized Liposomal Nanoparticles (HPLN) that are specifically optimized for each therapeutic or diagnostic application.
Timothy Enns (CEO), NanoValent Pharmaceuticals, Inc, http://www.nanovalent.com/, +1 +1 925 719 2143, [email protected]
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