Navigation Links
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."

Under the QTDP program, tax credits or grants were made available to companies with 250 or less employees to encourage therapeutic discovery projects that showed a reasonable potential to result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions; reduce the long-term growth of health care costs in the United States; or significantly advance the goal of curing cancer within 30 years.  For additional information on the QTDP program, please visit http://grants.nih.gov/grants/funding/QTDP_PIM.

About Neuraltus Pharmaceuticals, Inc.

Neuraltus Pharmaceuticals, Inc. is 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.  Neuraltus has three clinical-stage programs in its development pipeline, including potential treatments for Amyotrophic Lateral Sclerosis (ALS, or Lou Gehrig's disease), Parkinson's disease and dyskinesias associated with the treatment of Parkinson's disease, Alzheimer's disease, and multiple sclerosis, as well as lysosomal storage disorders such as Fabry's disease and Gaucher's disease.  Each of Neuraltus' clinical-stage programs is advancing novel drug molecules that represent new, first-in-class approaches to treating the Company's target disease indications.

Neuraltus began operations in 2009 based on a broadly enabling technology portfolio and intellectual property assembled by the company founders, Michael McGrath, MD, PhD, Professor of Laboratory Medicine at the University of California, San Francisco; Edgar Engleman, MD, Professor of Medicine and Pathology at Stanford University School of Medicine; and Ari Azhir, PhD.  In March 2009 Neuraltus closed a $17M Series A financing with leading venture groups Latterell Venture Partners, VantagePoint Venture Partners and Adams Street Partners.  For more information on Neuraltus, please visit www.neuraltus.com.


'/>"/>
SOURCE Neuraltus Pharmaceuticals
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Auxilium Pharmaceuticals, Inc. Receives Clearance to Resume Clinical Trials for XIAFLEX(TM)
2. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
3. Solvay Pharmaceuticals, Inc. and Wyeth Pharmaceuticals Announce Receipt of an FDA Action Letter for Bifeprunox, an Investigational Treatment for Schizophrenia
4. Callisto Pharmaceuticals Opens Additional Sites for Phase II Clinical Trial of Atiprimod in Advanced Carcinoid Cancer Patients
5. WallSt.net (www.wallst.net) Updates the Investment Community Through an All-New Interview With RegeneRx Biopharmaceuticals CEO
6. Quark Pharmaceuticals, Inc. Presented Positive Preclinical Results of Systemic RNAi Compound for Acute Renal Failure (ARF)
7. Peregrine Pharmaceuticals Doses First Patient in Cotara(R) Phase II Brain Cancer Trial In India
8. Nabi Biopharmaceuticals Announces Second Quarter 2007 Financial Results
9. Access Pharmaceuticals Provides Update on Clinical Development Plan of ProLindac
10. Quark Pharmaceuticals Extends Research Agreement with State University of New York for Proprietary siRNA Compounds for Acute Hearing Loss
11. Acura Pharmaceuticals, Inc. Secures Financing to Fund Pivotal Phase III Clinical Trial for Lead Aversion(R) Technology Product Candidate
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... , June 23, 2016 Research and ... Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data derived ... Assessment of major trends with potential impact on the market ... of market segmentation which comprises of sub markets, regional and ...
(Date:6/23/2016)... 2016 Bracket , a leading clinical trial ... clinical outcomes platform, Bracket eCOA (SM) 6.0, at the ... – 30, 2016 in Philadelphia , Pennsylvania.  ... Assessment product of its kind to fully integrate with RTSM, ... eCOA 6.0 is a flexible platform for electronic clinical outcomes ...
(Date:6/23/2016)... and BOGOTA, Colombia , June 23, 2016  Astellas today announced the establishment of ... Farma Brasil as the company,s second affiliate in Latin America . ... ... Manager of Astellas Farma Colombia ... ...
Breaking Medicine Technology:
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library ... City Observer , brings up a new, often overlooked aspect of head lice: the parasite’s ... for fumigation is not a common occurrence, but a necessary one in the event that ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health and ... their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards took ... the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to receive ...
(Date:6/24/2016)... ... , ... Marcy was in a crisis. Her son James, eight, was out of control. Prone ... physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If ... at my other children and say he was going to kill them. If we ...
(Date:6/24/2016)... ... ... of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum Wage’ ... 2020 and then adjusting it yearly to increase at the same rate as the median ... floor does not erode again, and make future increases more predictable. , The company is ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... the Frederick area economy by obtaining investment capital for emerging technology companies. ... years that have already resulted in more than a million dollars of capital ...
Breaking Medicine News(10 mins):