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Neuraltus Pharmaceuticals Awarded $733,437 Under the Qualifying Therapeutic Discovery Projects Grant Program (QTDP)
Date:11/5/2010

PALO ALTO, Calif., Nov. 5, 2010 /PRNewswire/ -- Neuraltus Pharmaceuticals, a privately held biopharmaceutical company dedicated to developing and commercializing high-impact therapeutics that address critical unmet needs, primarily in the treatment of neurodegenerative diseases, announced today the Company was awarded three grants totaling $733,437 under the Qualifying Therapeutic Discovery Projects Grant Program (QTDP).  The grants are being provided under section 48D of the Internal Revenue Code, enacted as part of the Patient Protection and Affordable Care Act of 2010.  The grants will be used to advance Neuraltus' product pipeline, including NP001, NP002 and NP003.  

Neuraltus currently is evaluating NP001 for the treatment of Amyotrophic Lateral Sclerosis (ALS, or Lou Gehrig's disease) in an ongoing Phase 1 study. NP001 is a novel small molecule that regulates macrophage activation, with potential application to a number of neurodegenerative diseases, including ALS, Alzheimer's disease, Parkinson's disease and multiple sclerosis.  NP002, Neuraltus' small molecule, nicotinic receptor agonist currently is in a Phase 1/2 study for L-dopa-induced dyskinesias (muscle movement disorders), a primary side effect of L-dopa treatment in Parkinson's disease patients.  In addition, Neuraltus is developing NP003, an orally bioavailable, small molecule designed to treat lysosomal storage disorders such as Fabry's disease and Gaucher's disease, as well as Parkinson's disease.

Andrew Gengos, Neuraltus' President and CEO, commented, "We are very pleased to receive this grant.  There remain significant unmet needs in the treatment of neurodegenerative diseases, specifically, ALS, Alzheimer's disease and Parkinson's disease.  Each of Neuraltus' programs represents a first-in-class approach to treating these indications.  With the help of the QTDP grant, Neuraltus will be able to further develop NP001, NP002 and NP003
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SOURCE Neuraltus Pharmaceuticals
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