United States-based Avexegen Therapeutics Inc has received a phase two award of USD2.94m under the National Institutes of Health's Small Business Innovation Research Program (SBIR), it was reported on Monday.
The funds will be used for the development of an oral Neuregulin-4-based therapy for inflammatory bowel disease (IBD).
Soumitra Ghosh, the principal investigator in the SBIR grant, said, 'Avexegen will use the NIH funds to develop an orally efficacious, NRG-4-based drug product with localised action in the gut and a superior safety profile.'
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