CORAL GABLES, FL, November 1, 2010 -- Catalyst Pharmaceutical Partners, Inc. (NasdaqCM: CPRX) today announced that it has been awarded a total of $488,958 in grants for two qualifying therapeutic projects under section 48D of the Internal Revenue Code.
Catalyst submitted two qualifying projects:
- CPP-109 For The Treatment Of Stimulant Dependence, and
- CPP-115 For The Treatment Of Various Forms Of Epilepsy And Stimulant Dependence.
Each project was awarded $244,479 for qualifying expenses incurred by Catalyst in 2009 and projected to be incurred in 2010.
“We are pleased to receive these grants to advance our CPP-109 and CPP-115 development programs,” stated Patrick J. McEnany, Catalyst’s Chief Executive Officer. “We believe that these grants are further validation that CPP-109 and CPP-115, when approved, may provide valuable future therapies to meet unmet medical needs in the field of substance abuse and other central nervous system disorders.”
About Catalyst Pharmaceutical Partners
Catalyst Pharmaceutical Partners, Inc. is a development-stage biopharmaceutical company focused on the development and commercialization of prescription drugs targeting addiction and diseases of the central nervous system, such as epilepsy and neuropathic pain. Catalyst has two GABA aminotransferase inhibitors in development, CPP-109 (vigabatrin) and CPP-115. Catalyst believes that it controls all current intellectual property for drugs that have a mechanism of action related to GABA aminotransferase inhibition. For more information about Catalyst, go to www.catalystpharma.com.