Altor BioScience Corporation, a biotechnology company developing targeted immunotherapies for treating cancer, viral infections, and inflammatory diseases, has been awarded a Small Business Innovation Research (SBIR) Phase II Bridge Grant by the National Cancer Institute (NCI).
The grant of $3m over three years will further support the efforts that Miramar, Florida-based Altor is making in the clinical development of ALT-801, a novel tumor-targeted immunotherapeutic designed to improve the efficacy and safety of the FDA-approved anticancer cytokine, interleukin-2 (IL-2).
Commenting on the funding, Hing Wong, Ph.D., Altor‘s CEO, said: “This award not only enables Altor to advance ALT-801 into Phase II efficacy studies without the help of a corporate partner, but it also validates the concept of using our proprietary targeting technology to improve the efficacy and safety of clinically proven drugs for treatment of cancer and viral infections. We appreciate the continued grant support from the NCI and FDA, which has helped advance ALT-801 from the research and development stage into clinical studies”.
The company also plans to use the funds to launch other clinical trials for ALT-801 in renal cell carcinoma, head & neck cancer and prostate cancer.
FinSMEs
25/09/2009