Project will advance novel platform for treatment of Spinal Muscular Atrophy
SOUTH PLAINFIELD, N.J. and NEW YORK, May 12 /PRNewswire/ -- PTC Therapeutics, Inc. (PTC) and the Spinal Muscular Atrophy (SMA) Foundation today announced the expansion of their research collaboration in which the SMA Foundation will provide up to $8.5 million in funding to PTC. This is the second continuation of the collaboration to fund a series of research projects initiated in 2006 to identify and optimize compounds with the potential to treat SMA by increasing production of the survival motor neuron (SMN) protein. The lack of the SMN protein causes SMA. Total funding for the initiative is now $11.7 million.
"We are very pleased that our collaboration with the SMA Foundation continues to expand and progress," said Stuart W. Peltz, PhD, president and chief executive officer of PTC. "Through this collaboration, we are leveraging our proprietary technologies to identify and develop treatments for a disease with high unmet medical need. Partnerships with venture philanthropy organizations like the SMA Foundation are a core part of our strategy to treat diseases that currently have few or no treatment options."
"The extension of our collaboration with PTC reflects substantial progress to date," said Meg Winberg, PhD, director of discovery research for the SMA Foundation. "We are looking forward to the rapid delivery of significant scientific achievements and, more importantly, an effective treatment for SMA, the most common genetic cause of death among infants and toddlers."
About PTC Therapeutics, Inc.
PTC is a biopharmaceutical company focused on t
|SOURCE PTC Therapeutics, Inc.|
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