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Michael J. Fox Foundation awards up to $3 million to industry teams
Date:1/31/2008

NEW YORK, NY, JANUARY 31, 2008. As part of its ongoing efforts to do whatever it takes to speed delivery of transformative treatments and a cure for Parkinson's disease, The Michael J. Fox Foundation for Parkinson's Research has awarded up to $3 million in total funding to four industry teams seeking to push potential new PD treatments closer to the clinic. The awards were granted under MJFF's Therapeutics Development Initiative (TDI) program. Open exclusively to industry researchers, TDI is the cornerstone of the Foundation's efforts to expand industry investment in PD drug development. Through TDI, the Foundation shares the risk of drug development, thus helping to speed companies abilities to reach critical decision points for Parkinson's disease projects. Each of the four TDI grant awardees listed below will undertake research aimed at solving critical gaps in the development of new PD treatments.

"While industry plays a vital role in shepherding new therapeutics through the development process toward clinical trials and patients, competitive pressures and tough allocation decisions too often get in the way of making the kinds of 'big bets' necessary for breakthrough developments" said Katie Hood, CEO of The Michael J. Fox Foundation. "By funding industry partners directly, TDI seeks to advance promising treatments that might otherwise get stuck at the pre-clinical stage. Our capital may be comparatively modest, but it can serve as a 'carrot' to leverage companies expertise and infrastructure and speed the development of therapeutics that could have an immense impact on patients' quality of life."

While the Foundation has funded industry researchers since its inception, the Therapeutics Development Initiative was launched in 2006 as part of a larger initiative to capture the attention and imagination of company decision-makers and encourage them to allocate resources to Parkinson's projects. To date, of the approximately $21 million t
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Contact: Dana Barde
dbarden@michaeljfox.org
212-509-0995
The Michael J. Fox Foundation for Parkinson's Research
Source:Eurekalert

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