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13therapeutics Receives a Therapeutic Discovery Grant for Treatment of Acute and Chronic Inflammatory Diseases

November 8, 2010

13therapeutics today announced it has been awarded a Therapeutic Discovery Grant from the Qualifying Therapeutic Discovery Project (QTDP) Program. The QTDP’s grants and tax credits are provided under the new section 48D of the Internal Revenue Code, enacted as part of the Patient Protection and Affordable Care Act of 2010. The grant in the amount of $244,479 is for the commercialization of a novel therapeutic for the treatment of acute and chronic inflammatory diseases such as Otitis Media, Rheumatoid Arthritis, Systemic Inflammation, Meningitis, Traumatic Brain Injury, Uveitis, Ischemia and others.

Portland, OR (PRWEB) November 7, 2010

13therapeutics today announced it has been awarded a Therapeutic Discovery Grant from the Qualifying Therapeutic Discovery Project (QTDP) Program. The QTDP’s grants and tax credits are provided under the new section 48D of the Internal Revenue Code, enacted as part of the Patient Protection and Affordable Care Act of 2010. The grant in the amount of $244,479 is for the commercialization of a novel therapeutic for the treatment of acute and chronic inflammatory diseases such as Otitis Media, Rheumatoid Arthritis, Systemic Inflammation, Meningitis, Traumatic Brain Injury, Uveitis, Ischemia and others.

13therapeutics is a research and drug development spin-out from the Oregon Health and Science University (OHSU) identifying and characterizing novel anti-inflammatory peptide therapeutics for unmet medical need. The company has an innovative platform for discovering and enhancing peptides derived from naturally occurring pathogens (e.g., bacteria, viruses, fungi) which modulate the human immune response.

“We are pleased to have been awarded the grant for this significant phase in our product development” said Tom Bruggere, Chairman and CEO of 13therapeutics. “The peptides we are developing have potential application for treatment of both acute and chronic inflammatory diseases.”

The grant is targeted to therapeutic discovery projects that show potential to:

“¢Result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions.

“¢Reduce the long-term growth of health care costs in the United States.

“¢Significantly advance the goal of curing cancer within 30 years.

Allocation of the grants takes into consideration which projects show 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.

Founded in 2008 by Dr. Steven Hefeneider and Sharon McCoy, Portland, Oregon-based 13therapeutics has produced a portfolio of peptides with demonstrated immune-regulatory activity and with varying mechanisms of action. Many of the company’s peptides are capable of multiple methods of delivery, have shown serum stability, and have other desired features of clinical therapeutics. The management team and research scientists of 13therapeutics are veterans of bioscience, research and technology. Website: http://www.13therapeutics.com.

For more information contact:

Tom Bruggere, CEO

13therapeutics, Inc.

(503) 525-4885

tom(at)13therapeutics(dot)com

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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2010/11/prweb4751884.htm


Source: prweb