Primetime Life Sciences Approved For $2.63 Million Phase II Fast Track SBIR Grant
Primetime Life Sciences Progresses PTLS-181 for Treating Depression.
GERMANTOWN, Md. - Sept. 10, 2019 - PRLog -- Primetime Life Sciences, LLC, a Maryland based pharmaceutical company focused on discovery and development of new and smart treatments, announced today that the company has successfully met the Phase I grant milestones, and has been awarded Phase II funding of $2.63 million from a Fast Track Small Business Innovation Research (SBIR) grant from the National Institute of Mental Health (NIMH). The SBIR program supports scientific excellence and technological innovation by encouraging small businesses to engage in translation research and bring innovative treatments.
The grant will support the development of the Company's lead compound, PTLS-181, for an innovative treatment of depression. Depression is a severe medical condition that affects millions of people with significant individual suffering and places an enormous socioeconomic burden for society.
Dr. Janak Padia, President and CEO of Primetime Life Sciences, stated, "We had put forward very aggressive Phase I milestones to provide a compelling rationale for PTLS-181 to initiate IND-enabling studies. We have successfully met these milestones. We are excited to progress PTLS-181 through IND-enabling studies and develop an efficacious treatment for depression."
NOTES TO EDITORS
About Primetime Life Sciences, LLC
Primetime Life Sciences (www.primetimelifesci.com)
Primetime Life Sciences, LLC
Dr. Janak Padia, Email: firstname.lastname@example.org