Grant Issued for Development of Novel Autoimmune Compounds
By BiotechDaily International staff writers
Posted on 26 Jun 2012
A US grant has been issued that will be used to fund the development of its proprietary oral small molecule macrophage migration inhibitory factor (MIF) inhibitors for the potential treatment of rheumatoid arthritis.
Specialty drug discovery company, Innovimmune Biotherapeutics, Inc. (New York, NY, USA) has been awarded a USD 600,000 Advanced Technology Small Business Innovation Research Grant from the US National Institutes of Health (NIH; Bethesda, MD, USA). The team of discovery and development experts in autoimmune and immunoinflammation diseases at Innovimmune has discovered oral small molecule cytokine inhibitors that exhibit a novel mode of binding to MIF.
“This federal grant support from the National Institute of Allergy and Infectious Diseases, part of the NIH, underscores the potential and quality of our science and our structure-based drug design platform, which enables our team to advance the development of promising oral disease-modifying antirheumatic drugs [DMARDs] and novel therapies for autoimmune diseases,” said Anderson Gaweco, MD, PhD, president and CEO of Innovimmune.
“This grant demonstrates the enormous talent and innovation that exists within New York City’s biotechnology companies,” said Lenzie Harcum, MBA, vice president, New York City Economic Development Corp. (NYCEDC; NY, USA) and director, bioscience team, Center for Economic Transformation. “NYCEDC is proud to provide continued support to Innovimmune and other New York-based companies that drive science and research forward, bringing us closer to new solutions for diseases with high unmet medical needs.”
Innovimmune Biotherapeutics is a drug discovery and exploratory development biotechnology company focused on the development of novel first-in-class and best-in-class proprietary oral small molecule new molecular entity immunomodulatory drugs for the treatment of autoimmune and immunoinflammatory diseases.