Avanti Biosciences Receives $1.9M SBIR Fast-Track Award to Further Treatment for Alzheimer’s Disease
Stony Brook, NY – August 28, 2017 - Avanti Biosciences Inc. a preclinical-stage biopharmaceutical company, announced today that the National Institute of Aging (NIA) has awarded the Company an SBIR fast-track grant of up to $1,930,000 to support the company’s small molecule Alzheimer’s disease (AD) over the next 3 years.
The award will enable the preparation and testing of Avanti’s proprietary compounds derivatized from natural catechins, which inhibit DYRK1A, an enzyme that modulates tau phosphorylation. Working with NY Institute for Basic Research and the University of California San Diego (UCSD), the company hopes to attenuate and potentially reverse pathogenesis for Alzheimer’s disease and other neurodegenerative diseases.
Dr. Gian Luca Araldi, Founder and Chief Executive Officer of Avanti, stated, “We are delighted to have been granted this funding from the NIA as it underscores the great need for innovative, effective treatments for this disease, and recognizes the potential benefits that our compounds may provide for patients with AD.”
“This award marks a significant milestone for Avanti Biosciences and an important step for their research into a treatment for Alzheimer’s disease” stated Dr. Clinton Rubin, Director of the New York State Center for Biotechnology at Stony Brook University. “The highly competitive SBIR/STTR program is an important funding mechanism for startup companies and the Center for Biotechnology is thrilled to see one of the region’s emerging bioscience companies secure an award of this stature.”
More than five million people in the United States are living with Alzheimer’s disease, a progressive, irreversible, neurodegenerative disease that destroys memory and other cognitive abilities. It is the sixth leading cause of death in the United States and as the aging population in the country grows, the incidence rate is expected to rise dramatically.
About Avanti Biosciences, Inc.
Avanti Biosciences, Inc. is a preclinical-stage biopharmaceutical company focused on the development of new classes of drugs for treating CNS diseases including Alzheimer’s Disease and Down Syndrome and rare systemic diseases like Hyperinsulinemia Hyperammonemia syndrome (HHS or HI/HA) and cardiac amyloidosis. Please visit the Avanti website at www.avantibiosciences.com to learn more about Avanti and its pipeline.