Oligomerix, Inc. Awarded $2.49 million Fast-Track National Institute on Aging SBIR Grant Funding Scale Up and Synthesis of its Lead Compound to Facilitate Initiation of IND-enabling Studies for Alzheimer’s Disease and Related Disorders
BRONX, N.Y.--(BUSINESS WIRE)--Oct 1, 2018--Oligomerix, Inc., a privately held company pioneering the development of disease modifying therapeutics for Alzheimer’s disease (AD) and related neurodegenerative disorders, announced today the receipt of a Small Business Innovation Research (SBIR) Phase I/Phase II Fast-Track grant for $2.49 million from the National Institutes of Health (NIH), National Institute on Aging (NIA). The program is entitled “ Scale-up and Synthesis of a Tau Oligomer Inhibitor to initiate IND enabling studies for AD and ADRD”.
The long-term goal of this program is to develop a disease-modifying, small molecule drug for Alzheimer’s disease (AD) and AD related dementias (ADRD) with tau pathology. There is a critical unmet need for a disease-modifying drug (DMD) for AD. Chronic treatment strategies require safe, effective, convenient and economically feasible approaches such as small molecule drugs.
This program is progressing to fill this need with a DMD that, if successful, can have a tremendous impact on the more than five million Americans who currently have AD (projected to be 16 million in the US and 100 million globally by 2050) and their caregivers, and can help reduce the current cost of $259 billion (projected to be $1.1 trillion by 2050) to our nation.
James Moe, Ph.D., MBA, President and CEO of Oligomerix said “In AD, tau loses its normal function and forms aggregates that eventually lead to tangle formations, one of the hallmarks of the disease. Our approach was based off our hypothesis that if we block the initial step in tau aggregation, downstream aggregates would be blocked as well. We have confirmed this based off our preliminary results that we intend to disclose in the near term.”
Oligomerix, Inc. is focused on the discovery and development of small molecule inhibitors, immunotherapeutic approaches and biomarkers targeting tau oligomers. The Company was founded in 2006 and maintains an incubator laboratory at the Albert Einstein College of Medicine.”
The Company is seeking strategic partners to help accelerate these important programs. For more information, visit www.oligomerix.com
Research reported in this publication was supported by the National Institute On Aging of the National Institutes of Health under Award Number. AG062021. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.”
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CONTACT: Oligomerix, Inc.
Chief Commercial Officer
James Moe, Ph.D., MBA
President and CEO
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CLINICAL TRIALS MENTAL HEALTH PHARMACEUTICAL RESEARCH SCIENCE
SOURCE: Oligomerix, Inc.
Copyright Business Wire 2018.
PUB: 10/01/2018 01:42 PM/DISC: 10/01/2018 01:42 PM