FORT WORTH, Texas, March 15, 2016 /PRNewswire-iReach/ -- LipoMedics Inc. announces that its Phase I Small Business Innovation Research (SBIR) grant entitled “Targeting the plasma high density lipoprotein (SR-B1) receptor for effective anti-cancer therapeutics” has been approved for funding of US$220,726.00 from National Institutes of Health (NIH), US.
Photo - http://photos.prnewswire.com/prnh/20160311/343503
The goal of this SBIR project is to develop nanoparticle formulation of a water insoluble chemotherapeutic agent (Valrubicin) for systemic administration. The platform technology relies on remodeling of drug nanoparticle into circulating HDL/Albumin drug complex with affinity for the Scavenger Receptor type B1 (SR-B1) receptor.
This award will provide LipoMedics the additional funding for its continued research in the development of solvent-free effective anti-cancer therapeutics of water insoluble drugs. LipoMedics has also secured US$1M in equity investment and additional funding from its corporate partner- Autotelic Inc..
About The National Institute of Health
The National Institute of Health is the largest biomedical research agency and is made up of 27 centers. It supports the research of over 2500 universities and research institutions throughout the nation. The NIH Small Business Innovation Research program is one of the largest sources of early stage capital for technology commercialization in the United States. The program allows for US-owned and operated small businesses to engage in federal research and development that has a strong potential for commercialization.
About LipoMedics Inc.
LipoMedics is developing personalized paclitaxel therapy based on its proprietary Therapeutic Drug Monitoring (TDM) device and its platform for delivery of water insoluble drugs including paclitaxel. The company’s platform technology is phospholipid paclitaxel nanoparticle that upon injection disperses paclitaxel in the plasma compartment. This phospholipid paclitaxel formulation will represent the “Next Generation Paclitaxel Nanomedicine”. More information is available at www.lipomedics.com.
About Autotelic Inc.
Autotelic works through partners to transform how medications are being delivered. The Autotelic platform is a Therapeutic Drug Monitoring (TDM) device which allows PK guided dosing, reducing the toxicity from overmedication and increasing the efficacy from under-medication. Current dosing schemes result in either too much drug exposure or too little drug exposure because of individual pharmacokinetic variations. The Autotelic pipeline includes TDM devices for management of oncology, hypertension and pain. More information is available at www.autotelicinc.com.
Forward-looking statements
This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “plans,” “believes,” “expects,” “anticipates,” “estimate,” “intend,” “project,” and “will,” and similar expressions, are intended to identify forward-looking statements. We caution you that any forward-looking information provided by or on our behalf is not a guarantee of future performance. Forward-looking statements include (I) changes in domestic and foreign economic or non-economic conditions (II) the effect of federal, state and foreign FDA regulations (III) Intellectual property and other claims (IV) the effect of our clinical and non-clinical trial (V) the impact on our branding strategy and other factors. All such forward-looking statements are current only as of the date on which such statements are made. We do not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of the companies may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. The companies above neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
Media Contact: Tapas De Ph. D., Chief Executive Officer, LipoMedics Inc., 818-575-9505, info@lipomedics.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE LipoMedics Inc.
