ParaPRO LLC Awarded $2.1 Million Grant from State of Indiana
Published: Sep 21, 2007
CARMEL, Ind.--(BUSINESS WIRE)--ParaPRO LLC today announced that it has received a $2.1 million grant from Indiana’s 21st Century Research and Technology Fund. The grant will help ParaPRO finance the phase 3 trials for its lead investigational product, a crème rinse containing Spinosad, for the treatment of human head lice. Spinosad (pronounced "spin-OH-sid") is derived through the fermentation of a naturally occurring organism. Spinosad has been registered by Dow AgroSciences for crop protection use in more than 30 counties and has been recognized by regulatory agencies such as the U.S. Environmental Protection Agency (EPA) for its efficacy, low mammalian toxicity and low environmental impact. The EPA awarded Spinosad the Presidential Green Chemistry Challenge Award in 1999, http://www.epa.gov/greenchemistry/pubs/pgcc/winners/dgca99.html. In 2002, Spinosad was approved by the National Organics Standards Board for use in the production of “certified organic” foods.