Therapy Areas: Oncology
Paramita Therapeutics receives USD255,990 NSF grant to develop therapeutic/vaccine product against SARS-CoV-2
22 July 2021 -

Paramita Therapeutics Inc reported on Wednesday the receipt of a National Science Foundation Small Business Innovation Research grant valued at USD255,990 to conduct research and development work on a novel dual-function therapeutic/vaccine product, TheraVax, to help combat COVID-19.

According to Paramita, TheraVax can not only can block entry of SARS-CoV-2 but also can activate the immune system to produce effector T cells and neutralising antibodies to eliminate SARS-CoV-2. It's thought that this unique dual-function therapeutic/vaccine could work at an early stage of infection to prevent hospitalisation and in mild or severe disease to block viral spread while activating appropriate immune responses.

Following the award of the Phase I grant, the company is eligible to apply for a Phase II grant of up to USD1m. Small businesses with Phase II funding are eligible to receive up to USD500,000 in additional matching funds with qualifying third-party investment or sales.

Paramita is an early-stage specialty biotech company focused on developing new therapeutics for cancer and infectious diseases.

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