Navigation Links
NIST Awards $2 Million to Velcura Therapeutics, Inc. for Innovative Technology R&D - Dual-Action Therapies for Bone Disease
Date:9/27/2007

ANN ARBOR, Mich., Sept. 27 /PRNewswire/ -- The National Institute of Standards and Technology (NIST) has selected Velcura Therapeutics, Inc. as an award winner in the Commerce Department's Advanced Technology Program (ATP), a peer-reviewed competition. NIST announced today that $2 million was awarded to the early-phase Michigan biotechnology company developing drug therapies to treat osteoporosis, bone cancer, bone fractures, and other bone disorders.

Velcura scientists have discovered a family of small molecules that possess characteristics of dual-action therapies, both stimulating bone formation and inhibiting loss. "These molecules are rapidly cleared from the blood stream, so these new drugs offer low systemic exposure, reduced off- target effects and extended time on target resulting in increased efficacy," according to Michael W. Long, PhD, president and CEO of Velcura Therapeutics, Inc. "This makes them effective agents for cancer patients and Velcura will start clinical trials I Multiple Myeloma patients for its first therapy, VEL- 0230, in early 2008."

Velcura's ATP funding supports the development of improved, or second- generation, molecules for use in bone diseases requiring long-term therapy, such rheumatoid arthritis or osteoporosis. "Velcura will use the ATP funding to invent new types of therapeutic molecules that retain the advantages of the current generation of compounds and their dual-action effects," Dr. Long added.

The ATP choose Velcura for its innovative approaches both at the level of medicinal chemistry and in the area of bone cell assay development. Velcura's new therapy could have a major economic impact on the treatment of many bone diseases such as osteoporosis that affects more than 10 million Americans. Current projections indicate a more than $60 billion market worldwide for diagnosis and treatment of the bone disease by 2020.

About Velcura Therapeutics(R), Inc.

Velcura Therapeutics Inc. is an early stage biotechnology company headquartered in Ann Arbor, Michigan. Velcura's research focus is to better understand human bone disease and to discover novel therapeutics that restore bone health. Velcura develops highly differentiated therapies for bone disease; specifically, dual-acting therapies that demonstrate both anabolic bone-building and anti-bone-loss activities in a single molecule. Velcura uses its patented platform technologies to discover and optimize compounds that both simulate and inhibit bone growth. Velcura's lead compound, VEL-0230 was identified using these bone assays. More information is at http://www.velcura.com.

About the Advanced Technology Program

Managed by the National Institute of Standards and Technology (NIST), the Advanced Technology Program encourages research on technologies that lead to revolutionary new products and industrial processes and services that address national priorities and generate large societal benefits. Winners are chosen on scientific and technological merit and potential for broad-based economic benefits. A single company can receive up to a total of $2 million for research and development activities for up to three years. Information on the 2007 Advanced Technology Program competition is available at http://www.atp.nist.gov/ and http://www.nist.gov/public_affairs/releases/atp_2007_awards.html. Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Michael W. Long, Ph.D. http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=49215


'/>"/>
SOURCE Velcura Therapeutics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine technology :

1. Pelosi: Bush Veto of Stem Cell Bill Says No to the Hopes of Million of Families Across America
2. Trichomoniasis: Most Common Curable STD in U.S. Affects 7.4 Million Annually
3. Cell Therapeutics, Inc. Management to Discuss Todays Announcement of Interim Pixantrone Study Results
4. Protalix BioTherapeutics, Inc. Receives Approval from the FDA to Initiate a Phase III Clinical Trial of prGCD
5. Mersana Therapeutics, Inc. to Present Preclinical Data on XMT-1001 at American Association of Cancer Research Annual Meeting
6. Next Safety, Inc.s Innovative Drug Delivery System Will Replace Cigarettes and Significantly Advance Pulmonary Medication Delivery
7. Innovative Cancer Drug MabThera Again Shown To Improve Survival Rates In Patients With Lymphoma
8. Oculus Innovative Sciences Microcyn Technology Presented in Poster at European Wound Management Association Conference
9. DNA Therapeutics Reports a Novel Mechanism of Action and a Biomarker of its Lead Molecule Dbait That Open an Innovative Pathway-Targeting in Molecular Cancer Therapy
10. West Nile Virus Screening and Diagnostics Technology Emerges In Step with North American Outbreak
11. Hematology Analyzers Simple, Sophisticated Technology Serving All Patients
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... Tenn. , June 24, 2016  Arkis ... providing less invasive and more durable cerebrospinal fluid ... in funding.  The Series-A funding is led by ... Lighthouse Fund, and other private investors.  Arkis, new ... neurosurgical instrumentation and the market release of its ...
(Date:6/23/2016)... Research and Markets has announced the addition ... Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), Functionality (Filler, Binder, ... Forecast to 2021" report to their offering. ... excipients market is projected to reach USD 8.1 Billion ... forecast period 2016 to 2021. The ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on the ... announced that patient enrollment in its ongoing randomized ... has exceeded 50% of its 24-patient target. Capricor ... the third quarter of 2016, and to report ...
Breaking Medicine Technology:
(Date:6/25/2016)... D.C. (PRWEB) , ... June 25, 2016 , ... ... discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, ... their work on several important health care topics including advance care planning, healthcare ...
(Date:6/25/2016)... Lewisville, TX (PRWEB) , ... June 25, 2016 , ... ... in the United States, named Dr. Sesan Ogunleye, as the Medical Director of its ... be the facility Medical Director of our new Mesquite location,” said Dr. James M. ...
(Date:6/25/2016)... Canada (PRWEB) , ... June 25, 2016 , ... Conventional ... pursuit of success. In terms of the latter, setting the bar too high can ... risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. Her son ... lash out at his family verbally and physically. , “When something upset him, he couldn’t ... would use it. He would throw rocks at my other children and say he was ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San Diego, ... and the Road To Recovery® program to drive cancer patients to and from their ... to ensure the highest quality of life and ongoing independence. Getting to and ...
Breaking Medicine News(10 mins):