Navigation Links
Ardea Biosciences Awarded a $733,438 Grant from the U.S. Government Under the Patient Protection and Affordable Care Act
Date:11/2/2010

SAN DIEGO, Nov. 2, 2010 /PRNewswire/ -- Ardea Biosciences, Inc. (Nasdaq: RDEA) announced today that it has been awarded a $733,438 grant from the Department of Health and Human Services (HHS) under the recently enacted Patient Protection and Affordable Care Act.  Ardea submitted three applications, one for each of its drug candidates under active development, for expenses incurred during 2009 and 2010.  All three applications received an award.  The grant is expected to be fully funded in the fourth quarter of 2010.

"We are extremely pleased that the Department of Health and Human Services has confirmed that our programs qualify for funding due to their potential to address significant unmet medical needs, treat chronic diseases, reduce long-term health care costs and sustain high-quality, high paying jobs in the U.S.," commented John W. Beck, senior vice president, finance and operations and chief financial officer. "This grant provides an important source of non-dilutive funding in our continued efforts to further these important objectives."

About Ardea Biosciences, Inc.

Ardea Biosciences, Inc., of San Diego, California, is a biotechnology company focused on the development of small-molecule therapeutics for the treatment of serious diseases.  RDEA594, our lead product candidate for the treatment of hyperuricemia and gout, is a selective URAT1 transporter inhibitor in Phase 2 clinical development.  Our next-generation URAT1 inhibitor program is currently in preclinical development.  BAY 86-9766, formerly known as RDEA119, is a potent and specific inhibitor of mitogen-activated ERK kinase (MEK) for the treatment of cancer being developed under a global license agreement with Bayer HealthCare AG.  BAY 86-9766 is currently being evaluated in advanced cancer patients with different tumor types as a single agent in a Phase 1 study as well as in combination with sorafenib (Nexavar®; Bayer HealthCare, Onyx Pharmaceuticals) in a Phase 1/2 study.  Our two product candidates for the treatment of HIV, RDEA806 and RDEA427, are non-nucleoside reverse transcriptase inhibitors (NNRTIs), which have successfully completed a Phase 2a study in HIV patients and a human micro-dose pharmacokinetic study in healthy volunteers, respectively.

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.  Such statements include, but are not limited to, statements regarding our plans and goals, the expected properties and benefits of RDEA594, BAY 86-9766 (RDEA119), RDEA806, RDEA427 and our other compounds and the timing and results of our preclinical, clinical and other studies.  Risks that contribute to the uncertain nature of the forward-looking statements include risks related to the outcome of preclinical and clinical studies, risks related to regulatory approvals, delays in commencement of preclinical and clinical studies, costs associated with our drug discovery and development programs, and risks related to the outcome of our business development activities, including collaboration or license agreements.  These and other risks and uncertainties are described more fully in our most recently filed SEC documents, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, under the headings "Risk Factors."  All forward-looking statements contained in this press release speak only as of the date on which they were made.  We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

(Logo:  http://photos.prnewswire.com/prnh/20091104/ARDEALOGO)

(Logo:  http://www.newscom.com/cgi-bin/prnh/20091104/ARDEALOGO)


'/>"/>
SOURCE Ardea Biosciences, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Ardea Biosciences to Present Data on Lead MEK inhibitor, RDEA119, at EORTC-NCI-AACR Symposium
2. Ardea Biosciences to Present Data on Gout and Inflammation Programs at the 2008 ACR/ARHP Annual Scientific Meeting
3. Ardea Biosciences to Present at the UBS Global Life Sciences Conference and the Third Annual JMP Securities Healthcare Focus Conference
4. Cardea Technology Inc and Optasia Medical Ltd Announce Plans to Collaborate to Optimize Their Vertebral Fracture Assessment Tools
5. Ardea Biosciences to Present at the Piper Jaffray 21st Annual Health Care Conference
6. Ardea Biosciences Announces Appointment of Felix J. Baker, Ph.D. to Board of Directors
7. Ardea Biosciences to Present at the Oppenheimer 21st Annual Healthcare Conference
8. Monogram Biosciences to Present at the Thomas Weisel Partners Healthcare Conference 2008
9. Carna Biosciences Signs Reagent Supply Agreement with Caliper Life Sciences
10. Pressure BioSciences, Inc. to Discuss Second Quarter 2008 Financial Results and Provide Business Update
11. Milestone Biosciences, LLC Further Strengthens Executive Management Team
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... and LAGUNA HILLS, Calif. , Oct. ... Cancer Research, London (ICR) and University ... SKY92, SkylineDx,s prognostic tool to risk-stratify patients with multiple myeloma ... MUK nine . The University of Leeds ... partly funded by Myeloma UK, and ICR will perform the ...
(Date:10/10/2017)... ... 2017 , ... San Diego-based team building and cooking events company, Lajollacooks4u, has ... The bold new look is part of a transformation to increase awareness, appeal to ... period. , It will also expand its service offering from its signature gourmet cooking ...
(Date:10/10/2017)... 10, 2017 International research firm Parks Associates announced ... at the TMA 2017 Annual Meeting , October 11 in ... residential home security market and how smart safety and security products impact ... Parks Associates: Smart Home ... "The residential security market has ...
(Date:10/9/2017)... DIEGO , Oct. 9, 2017  BioTech ... biological mechanism by which its ProCell stem cell ... critical limb ischemia.  The Company, demonstrated that treatment ... amount of limbs saved as compared to standard ... the molecule HGF resulted in reduction of therapeutic ...
Breaking Biology Technology:
(Date:3/28/2017)... , March 28, 2017 The ... Hardware (Camera, Monitors, Servers, Storage Devices), Software (Video Analytics, ... Region - Global Forecast to 2022", published by MarketsandMarkets, ... 2016 and is projected to reach USD 75.64 Billion ... and 2022. The base year considered for the study ...
(Date:3/24/2017)... 24, 2017 The Controller General of Immigration from ... Abdulla Algeen have received the prestigious international IAIR Award for the ... Continue Reading ... ... Controller Abdulla Algeen (small picture on the right) have received the IAIR ...
(Date:3/23/2017)... The report "Gesture Recognition and Touchless Sensing Market by Technology (Touch-based ... to 2022", published by MarketsandMarkets, the market is expected to be worth USD ... 2022. Continue Reading ... ... ...
Breaking Biology News(10 mins):