Vaccinex, Inc. Awarded Three Qualifying Therapeutic Discovery Project (QTDP) Grants Under the Patient Protection and Affordable Care Act of 2010 (PPACA)
ROCHESTER, N.Y., Nov. 1, 2010 /PRNewswire/ — Vaccinex, Inc. announced today that it has been awarded three grants by the United States government under the Qualifying Therapeutic Discovery Project (QTDP) Program to advance the development of the company’s three lead therapeutic monoclonal antibodies, VX15, VX5 and VX35. The QTDP grant program provides support for innovative projects that are determined by the U.S. Department of Health and Human Services to have reasonable potential to result in a new therapy, reduce health care costs, or significantly advance the goal of curing cancer.
Commenting on the grant awards, Dr. Maurice Zauderer, President & CEO, said, “We are very appreciative of the recognition and support provided by these awards for innovative Vaccinex projects that could advance the treatment of cancer and autoimmune diseases, and also provide significant economic benefits to our community.”
The three different Vaccinex projects represent novel approaches to inhibit invasive tumor growth and to treat multiple sclerosis and other neurodegenerative diseases. Vaccinex expects to begin clinical trials of its lead therapeutic antibodies in cancer and multiple sclerosis in early 2011.
Founded in 1997 and located in Rochester, NY, Vaccinex, Inc. is a privately held biotechnology company engaged in the discovery and development of human therapeutic monoclonal antibodies and vaccines to treat serious diseases with unmet needs, including cancer, multiple sclerosis, and other autoimmune diseases. Website: www.vaccinex.com.
SOURCE Vaccinex, Inc.