Wednesday October 8 8:29 AM EDT
Company Press Release
Cambridge NeuroScience Awarded Phase I SBIR Grant for Development of Novel Agents to Reverse Nerve Damage
CAMBRIDGE, Mass., Oct. 8 /PRNewswire/ -- Cambridge NeuroScience, Inc. (Nasdaq:CNSI) announced today that it has been awarded a $100,000 Phase I Small Business Innovation Research (SBIR) grant from the National Institute of Neurological Diseases and Stroke (NINDS) of the National Institutes of Health for the identification and development of drugs to treat peripheral neuropathies such as those that occur in advanced diabetes and during cancer chemotherapy.
''This Phase I grant will support our drug discovery efforts in the area of potassium channel blockers and optimize our considerable resources in peripheral neuropathy,'' said Robert N. McBurney, Senior Vice President, Research and Chief Scientific Officer of Cambridge NeuroScience. ''The award also validates our general expertise in discovery of ion-channel blockers.''
Peripheral neuropathies can cause movement disorders and disturbed sensation, including chronic burning pain which can spread from the feet and hands to involve the upper limbs and trunk. Approximately 50 percent of the 8 million Americans diagnosed with diabetes suffer from peripheral neuropathies. In addition, damage to peripheral nerves is a dose-limiting side effect of many cancer chemotherapy treatments. Various toxic substances and immune system disorders can also cause peripheral neuropathies. Cambridge NeuroScience believes that small molecule drugs which block potassium channels will be effective in treating the symptoms of these disabling disorders of peripheral nerves and might also be effective in treating the symptoms of multiple sclerosis. The Company has successfully expanded its expertise in the discovery and development of ion-channel blockers to include a focus on potassium channels.
To date, Cambridge NeuroScience has received 16 SBIR grants, totaling approximately $4 million. Six of these grant proposals were submitted by the Company for extension from Phase I SBIR grants to Phase II, and all six were awarded.
Cambridge NeuroScience, Inc. is a leading neuroscience company engaged in the discovery and development of proprietary pharmaceuticals focusing on nerve cell survival. The Company is developing a number of products to treat stroke, traumatic brain injury and chronic neurodegenerative disorders such as multiple sclerosis, peripheral neuropathies and other degenerative diseases.
This press release contains forward-looking statements based on the current expectations of management. There are certain important factors that could cause results to differ from those anticipated by the statements made above, including, but not limited to, the results of the scientific research programs described above, the strategic interests of Cambridge NeuroScience in pursuing the project as well as the results of future clinical trials, and the acceptance by regulatory authorities of the Company's clinical trial outcomes as a basis for marketing approval.
SOURCE Cambridge NeuroScience, Inc. |
