LOS ANGELES, CA--(Marketwire - November 03, 2010) -
Ritter Pharmaceuticals, Inc., a biological therapeutics company with a focus on digestive diseases, announced today that it has been awarded a grant by the United States government program, the Qualifying Therapeutic Discovery Project (QTDP). The QTDP grant supports the development of Ritter Pharmaceuticals' flagship product, RP-G28, as a treatment for the symptoms of lactose intolerance.
There were over 6,500 applicants seeking $1 billion in grant funding. Ritter Pharmaceuticals received the maximum awarded amount per project.
"We appreciate the recognition and support provided by the QTDP grant for our product, RP-G28. We are hopeful that our work will lead to FDA approval of a successful treatment for lactose intolerance," commented Andrew Ritter, CEO of Ritter Pharmaceuticals. "This award demonstrates the broad interest in new treatments for lactose intolerance, a condition that afflicts as many as 80 million people in North America and 4.3 billion internationally."
The QTDP grant program was enacted as part of the Patient Protection and Affordable Care Act of 2010. The grant program provides support for innovative projects that are determined by the U.S. Department of Health and Human Services to have reasonable potential to result in new therapies that treat areas of unmet medical need; prevent, detect or treat chronic or acute diseases and conditions; reduce health care costs, or significantly advance the goal of curing cancer.
A unique mechanism of action gives RP-G28 the potential to be the only therapeutic regimen designed to impact the natural factors of the disease and alleviate the symptoms of lactose intolerance on a long-term basis. Phase 2 clinical development is underway.
About Lactose Intolerance
Lactose intolerance is the inability to digest dairy products, such as milk, ice cream, cheese and pizza. Symptoms include a combination of digestive discomfort including gas, cramping, bloating or diarrhea. Beyond the painful, uncomfortable and embarrassing gastrointestinal consequences, the disease can increase the long-term health risks for osteoporosis, hypertension, and certain cancers, including colon and breast.
About Ritter Pharmaceuticals:
Ritter Pharmaceuticals is committed to the discovery, development and commercialization of innovative therapeutic treatments for gastrointestinal diseases. The Company's scientific platform of gastrointestinal physiology, metabolism and gut adaptation brings creativity to providing unique therapeutic approaches to a variety of GI diseases, including lactose intolerance, irritable bowel syndrome, Crohn's disease, and ulcerative colitis. Ritter's mission is to help individuals live a healthier and happier lifestyle through improving one's digestion and overall well-being.