SAN DIEGO – NeuroGenetic Pharmaceuticals, Inc., a privately held biopharmaceutical company focused on Alzheimer’s disease (AD) therapeutics, has been awarded a Small Business Innovation Research (SBIR) fast-track grant from the National Institutes of Health (NIH) for preclinical work on its lead compound for potential treatment and prevention of Alzheimer’s disease. The first phase award is in the amount of $288,000 with future awards to approach $1 million for each subsequent phase, which can be up to three rounds of additional funding for milestone-based achievements.
The grant will fund the preclinical development and Investigational New Drug (IND) application for NeurgoGenetic’s lead compound, NGP 555. The grant is administered by the National Institute of Neurological Disorders and Stroke (NINDS), a division of NIH, in a cooperative agreement with NeuroGenetic Pharmaceuticals, Inc. Dr. William T. Comer, president and CEO of NGP said, “We are honored to be selected for this highly competitive award. These funds make it possible to reach our goal of fulfilling an Investigational New Drug (IND) application with NGP 555 for the prevention of AD.”
About NeuroGenetic Pharmaceuticals, Inc.
NeuroGenetic Pharmaceuticals, Inc. (NGP) is a San Diego-based biopharmaceutical discovery and development company founded in 2009 and dedicated to developing innovative drug therapies for Alzheimer’s disease. NGP will utilize amyloid-based diagnostic methods to select patients and monitor drug effectiveness. These tools combined with a safe and efficacious therapy give the best chance for halting the progression of AD and preventing dementia. NGP’s current focus is the development of NGP 555, a proprietary “first in class” molecule for the treatment/prevention of Alzheimer’s disease. Based on preclinical studies in rodents, this compound is expected to selectively prevent the formation of A?42 and the deposition of amyloid plaques in the human brain, thereby preventing neuronal cell death and the dementia associated with AD.
About Alzheimer’s disease
Alzheimer’s disease is a progressive and fatal brain disease, with as many as 5.3 million Americans currently afflicted with the disease. The National Institute of Health reports that unless the disease can be effectively treated or prevented, the number of people with AD will increase significantly. It is now known that the pathology burden of plaques and tangles in the brain may begin as much as 10 – 20 years before dementia can be detected. This gradual progression of pathology to dementia represents a substantial unmet need in terms of the rapidly growing size of an aging population likely to be affected, and the enormous cost of treatment and hospitalization to society. Advances in assessing genetic risk, biomarker profile in spinal fluid, and brain scanning to predict who will develop Alzheimer’s disease (AD) and when it progresses, will allow AD therapeutics to be tested efficiently in the clinic. This newfound ability to diagnose and monitor AD progression makes the need for safe and effective drugs even more critical.
Dr. William T. Comer, CEO, NeuroGenetic Pharmaceuticals, Inc.
Gable PR for NeuroGenetic Pharmaceuticals, Inc.