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Ocular Pharma Company Charlesson Announces $2.35MM in New Funding
Date:10/17/2007

Company aims to develop pharmaceutical therapeutics for blinding eye

diseases, including Age-Related Macular Degeneration and Diabetic

Retinopathy

OKLAHOMA CITY, Oct. 17 /PRNewswire/ -- Charlesson, LLC ("Charlesson") today announced that it is the recipient of several Small Business Innovative Research (SBIR) awards from the National Institutes of Health (NIH), and an award from the Oklahoma Center for the Advancement of Science and Technology (OCAST). The four grants total approximately $2,350,000 and will support development of several pharmaceutical drug candidates, as well as nanoparticle-based gene therapies for eye disease.

Mike Moradi, Chief Executive Officer of Charlesson said, "These funds will greatly assist the company in finalizing preclinical studies for an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA). We expect to file our first IND in 2008 and are hopeful that Charlesson's products will improve the quality of life for over 13.3 million Americans suffering from these blinding diseases. We believe these competitive grant awards represent national enthusiasm for our drug development efforts, and Charlesson is now seeking commercial partners for our various compounds", said Mr. Moradi.

Charlesson was awarded $840,000 in a Phase II SBIR award from the NIH to develop CLT-003 for Diabetic Macular Edema (DME). These funds will be used to finalize IND-enabling efficacy and safety data. CLT-003 is a small molecule therapeutic with potent effects on reducing vascular leakage and subsequent neovascularization and inflammation that can occur in the eyes of diabetic patients. Charlesson is also developing efficacy profiles of CLT-003 for treating the "wet" and "dry" forms of Age-Related Macular Degeneration (AMD). "Our preclinical studies have demonstrated that CLT-003 is a safe and potent therapeutic for treating various forms of blinding retinal disea
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SOURCE Charlesson, LLC
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