Bolder BioTechnology, Inc. Receives $1.6 million National Institutes of Health (NIH) Grant to Continue Development of Multiple Sclerosis Drug
Published: Oct 15, 2008
BOULDER, Colo., Oct. 15 /PRNewswire/ -- Bolder BioTechnology, Inc. announced today that it has been awarded a $1.6 million Phase II Continuing Renewal Small Business Innovation Research (SBIR) grant, entitled "Long-Acting Beta Interferon for Multiple Sclerosis", from the National Institute of Neurological Disorders and Stroke (NINDS) of The National Institutes of Health (NIH). Receipt of the entire grant award is contingent upon the achievement of certain research milestones.
George (Joe) Cox, Ph.D., Company President and Principal Investigator for the grant, stated, "We are grateful to receive continued support from NINDS for our long-acting beta interferon program. With previous funding from NINDS we developed a novel beta interferon analog that has a longer duration of action and more potent biological activity than existing beta interferon products in animals. The new grant award will be used to perform preclinical studies required by the Food and Drug Administration for filing an Investigational New Drug application to begin testing our long-acting beta interferon analog in people. Recombinant beta interferon products have annual worldwide sales of approximately $5 billion, primarily from use of the drugs to treat Multiple Sclerosis. Multiple Sclerosis is a debilitating neurological disease that affects approximately 400,000 people in the United States and 2.5 million people worldwide. Current commercial beta interferon products are only partially effective and are inconvenient to use because they must be injected frequently, typically for the life of the patient. Our long-acting beta interferon analog was designed to provide patients with a more efficacious and easier to use product."
The NIH SBIR program is a peer-reviewed grant program that provides research support to small businesses to discover and develop innovative biomedical products for the treatment of serious unmet medical needs.
Bolder BioTechnology, Inc. uses advanced protein engineering technologies to create proprietary human protein pharmaceuticals with enhanced therapeutic properties for the treatment of hematopoietic and endocrine disorders, cancer and infectious diseases. For additional information about Bolder BioTechnology, Inc., please visit our web site at www.bolderbio.com.
Statements contained herein that are not historical facts are forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company. These factors include, but are not limited to: (1) the Company's ability to successfully complete product research and development, including pre-clinical and clinical studies, and commercialization; (2) the Company's ability to obtain required government approvals; (3) the Company's ability to attract and/or maintain manufacturing, sales, distribution and marketing partners; and (4) the Company's ability to develop and commercialize its products before its competitors.
CONTACT: Joe Cox, Ph.D., President of Bolder BioTechnology, Inc.,
+1-303-420-4420, ext. 202
Web site: http://www.bolderbio.com/