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Pervasis Therapeutics Awarded Four Grants Under the Qualifying Therapeutic Discovery Project
Date:11/5/2010

enous Access for Hemodialysis ($244,479.25)
  • Development of Tissue-Engineered Endothelial Cell Therapy to Supplement Orthopedic Procedures ($244,479.25)
  • Development of Tissue-Engineered Endothelial Cell Therapy for Brain and Prostate Cancer  ($191,420.94)

    • "The awarding of these grants validates our belief that our breakthrough therapies offer fundamentally new approaches to improving outcomes for vascular surgical and interventional procedures, as well as the potential to address unmet needs associated with several other critical disease areas, such as cancer," said Frederic Chereau, president and chief executive officer of Pervasis. "We look forward to continuing our research and development of these important therapies in order to bring them to patients as quickly as possible."

    A Phase I/II study is currently underway in France to evaluate PVS-10200, an investigational new drug under development by Pervasis to prevent restenosis in patients with peripheral arterial disease who undergo an angioplasty and stent procedure in the superficial femoral artery. The company's most advanced program, Vascugel®, has demonstrated proof of concept and safety in two Phase 2 trials in patients undergoing arteriovenous access procedures for hemodialysis. Earlier this year, Pervasis announced that it had reached an agreement with the U.S. Food and Drug Administration (FDA) for its Phase 3 clinical trial of Vascugel under the FDA's Special Protocol Assessment (SPA) procedure. Through the SPA procedure, FDA formalized its agreement that the design of the Phase 3 trial was acceptable to support a regulatory submission seeking new drug approval.

    The Qualifying Therapeutic Discovery Project, established under section 48D of the Internal Revenue Code, is a $1 billion fund, available to firms with no more than 250 employees. The credit or grant covers up to 50 percent of the cost of qualifying biomedical research.

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    SOURCE Pervasis Therapeutics, Inc.
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