SAN DIEGO, July 21, 2021 /PRNewswire/ — Paramita Therapeutics, Inc. (Paramita) has been awarded a Nationwide Science Basis Small Enterprise Innovation Analysis grant for $255,990 to conduct analysis and growth work on a novel dual-function therapeutic/vaccine product, designated as TheraVax™. TheraVax not solely can block entry of SARS-CoV-2 but in addition can activate the immune system to provide effector T cells and neutralizing antibodies to remove SARS-CoV-2. This distinctive dual-function therapeutic/vaccine might work at an early stage of an infection to forestall hospitalization and in delicate or extreme illness to dam viral unfold whereas activating acceptable immune responses.
“NSF is proud to assist the know-how of the long run by considering past incremental developments and funding probably the most artistic, impactful concepts throughout all markets and areas of science and engineering,” stated Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF. “With the assist of our analysis funds, any deep know-how startup or small enterprise can information fundamental science into significant options that handle large wants.”
“The multivalent chemical conjugation platform that we’re growing for COVID-19 will work with different viruses and even most cancers cells. Due to this fact, our platform can have revolutionary affect on society as an entire, not solely impacting on the present pandemic but in addition thwarting future pandemics whereas offering novel therapies for most cancers,” stated Dr. Sang Van, CEO, Paramita Therapeutics, Inc.
As soon as a small enterprise is awarded a Section I SBIR/STTR grant, it turns into eligible to use for a Section II (as much as $1 million). Small companies with Section II funding are eligible to obtain as much as $500,000 in extra matching funds with qualifying third-party funding or gross sales.
About Paramita Therapeutics, Inc.: Paramita is an early-stage specialty biotech firm targeted on growing new therapeutics for most cancers and infectious illnesses. Paramita can rapidly transfer these new therapeutics to the clinic with our revolutionary, patented, easy multi-functional chemical platform developed by Dr. Sang Van. We intend to leverage this know-how to provide novel multivalent drug conjugates based mostly on identified/authorised molecules with established security and toxicology profiles. This technique permits us to bypass or streamline the extraordinarily costly and time-consuming course of. Paramita is managed by CEO Sang Van, PhD; CSO Jack D. Bui, PhD & MD; and BD Director Sue Zhong, PhD & MBA. www.paramita-therapeutics.com
Concerning the Nationwide Science Basis’s Small Enterprise Packages: America’s Seed Fund powered by NSF awards $200 million yearly to startups and small companies, remodeling scientific discovery into services with industrial and societal affect. Startups working throughout virtually all areas of science and know-how can obtain as much as $2 million to assist analysis and growth (R&D), serving to de-risk know-how for industrial success. America’s Seed Fund is congressionally mandated by way of the Small Enterprise Innovation Analysis (SBIR) program. The NSF is an unbiased federal company with a finances of about $8.5 billion that helps basic analysis and training throughout all fields of science and engineering.
View authentic content material to obtain multimedia:https://www.prnewswire.com/news-releases/paramita-therapeutics-inc-awarded-competitive-grant-from-the-national-science-foundation-301339045.html
SOURCE Paramita Therapeutics, Inc.