Federal Grant Awarded To Chicago BioMed Firm To Advance Research on Thalassemia
Federal Grant Awarded To Chicago BioMed Firm To Advance Research on Thalassemia. Among the World’s Largest Hereditary Disorder; Firm Has Potential “in Vitro” Cure
Errant Gene Therapy Awarded Maximum Level Grant for Thalagen Treatment
Chicago, IL November 4, 2010
Errant Gene Therapeutics, LLC
EGT, a biopharmaceutical company headquartered in Chicago, Illinois, announced that it has been awarded a $245,000 grant under the Qualifying Therapeutic Discovery Project (QTDP) program. The QTDP, created by U.S. Congress as part of the Patient Protection and Affordable Care Act of 2010, is designed to promote medical research that could improve health and save lives. “We are extremely pleased that our Thalagen project has been reviewed and assessed positively by the federal government, resulting in a grant at the maximum level available under the QTDP grant program” said Pat Girondi, EGT’s Chief Executive Officer. “These funds and other sources continue to help support EGT’s ongoing research and development programs.” EGT said it will use the grant to further advance its international clinical programs for Thalagen, for which it has already secured designation as an Orphan Drug in both the US and European for chronic beta Thalassemias (also called Cooley’s Anemia). Thalagen is an applied regenerative therapy that seeks to permanently end transfusion dependence for patients, essentially curing this disease. Thalassemia, a deadly genetic condition, is one of the world’s largest hereditary blood disorders. The company said it plans to launch the US Phase 1 human clinical trials of Thalagen in Q1 2011. The QTDP was intended specifically to provide incentive to smaller companies who are focusing on innovative therapeutic discoveries that show potential to produce new therapies that address areas of unmet medical need, and reduce long-term health care costs. In addition, awards took into consideration research that demonstrates the greatest potential to create and sustain high-quality, high-paying U.S. jobs and to advance U.S. competitiveness in life, biological and medical sciences.
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