Chrysalis BioTherapeutics Receives Funding from the National Institutes of Health for COVID-19 Therapeutic Development

June 10, 2020 |

2 min read

Chrysalis BioTherapeutics, Inc., a clinical-stage biotechnology company developing regenerative drugs for acute organ injury caused by radiation exposure, announced today that the National Institute of Allergy and Infectious Disease (NIAID), part of the National Institutes of Health, awarded Chrysalis $912,157 to fund preclinical development of its investigational drug TP508 for SARS-CoV-2 infection

GALVESTON, Texas--(BUSINESS WIRE)-- Chrysalis Biotherapeutics (Formerly known as Chrysalis BioTechnology), a clinical-stage biotechnology company developing regenerative drugs for acute organ injury caused by radiation exposure, announced today that the National Institute of Allergy and Infectious Disease (NIAID), part of the National Institutes of Health, awarded Chrysalis $912,157 to fund preclinical development of its investigational drug TP508 for SARS-CoV-2 infection. The contract award includes an option to conduct a Phase I human clinical trial to demonstrate safety prior to initiating efficacy trials in COVID-19 patients.

“This award will allow us to evaluate TP508 as a potential solution to prevent thrombosis and systemic vascular damage caused by SARS-CoV-2 infection,” said Chrysalis CEO, Dr. Darrell Carney.

TP508 has already been tested in multiple clinical trials for bone repair and healing of diabetic foot ulcers, with no drug-related adverse effects observed among ~600 participants. TP508 is also currently being developed with NIAID funding as a medical countermeasure for acute and delayed effects of radiation exposure. Preclinical data have demonstrated that TP508 significantly increases survival when injected 24 hours after radiation exposure by restoring vascular and progenitor cell function. “TP508 protects endothelial cells lining blood vessels and stimulates replacement of damaged cells in a number of tissues,” explained Chrysalis EVP, Dr. Laurie Sower. She continued, “Since SARS-CoV-2 infection causes significant vascular damage, we anticipate that TP508 may help prevent disease progression.” This research will lay the groundwork for future Phase 2 clinical trials in COVID-19 patients.

Chrysalis BioTherapeutics, Inc. is a biopharmaceutical development company located in Galveston, TX. TP508 (rusalatide acetate) is licensed from The University of Texas Medical Branch (UTMB) at Galveston, TX. TP508 is not yet FDA-approved and is currently only available for investigational use. For additional information, contact Dr. Darrell Carney, CEO, at dcarney@chrysbio.com or visit http://www.chrysbio.com.

Research reported in this press release was in whole or part supported with federal funds from NIAID under contract number HHSN272201700011C. The content is solely the responsibility of the authors and Chrysalis BioTherapeutics, Inc. and does not necessarily represent official views of the National Institutes of Health, or The University of Texas Medical Branch.