Chesco Pharma Co. Given Funds To Develop COVID Treatment | #coronavirus | #kids. | #children | #schools

WEST CHESTER, PA — A Chester County-based biopharma company is working on therapies that are expected to make pulmonary complications of COVID-19 less severe, and has received funding to speed up research and development.

Melior Pharmaceuticals of Exton will receive more than $210,000 in grant funding to support the advancement of a treatment in response to the COVID-19 pandemic. Melior is one of 23 qualified biotechnology entities statewide that will receive $10 million in total grant funding through the COVID-19 Vaccines, Treatments, and Therapies (CV-VTT) program.

The treatment tolimidone, already on the market for other uses, is expected to significantly lower the number of COVID-19 sufferers who develop respiratory distress and also diminish the severity of respiratory distress when it does occur.

The state funding, announced last month, was made available to Pennsylvania-based entities that demonstrate both a financial need and a well-defined pathway to the accelerated commercialization of a new vaccine, treatment or therapy in direct response to fight against COVID-19.

Melior Pharmaceuticals and over 400 study participants will demonstrate the drug’s use as a COVID therapy. The company said tolimidone shows great promise as a pulmonary (lung) therapeutic, and is expected to reduce the occurrence and severity of pulmonary complications in subjects with COVID-19.

“We are pleased that the Commonwealth of Pennsylvania has recognized tolimidone as a promising candidate to combat COVID-19,” said Andrew Reaume, CEO of Melior Pharmaceuticals. “We are proud to be able to advance a candidate to help address this global pandemic.”

“Chester County has always been a hub for innovation, especially in the pharmaceutical and biotechnology industries. That commitment to scientific research for the betterment of all continues today” Sen. Andy Dinniman (D-19) said last week.

Of the 23 state projects funded, $6.8 million was awarded to 12 vaccine projects, nearly $1.2 million was awarded to five therapy projects, nearly $1.6 million was awarded to five treatment projects, and $430,000 was awarded to a project that will support the build-out of physical infrastructure, advancing the development of leading-edge innovations in the fight against SARS-CoV-2.

|News|

The home, listed at $24 million, has an annual property tax bill of $109,000. See inside:

See Inside The Most Expensive Home For Sale In Suburban Philly

Under the grant program, colleges and universities, for-profit companies, academic medical centers, non-profit research institutions, and economic development organizations could apply for up to $1 million in grant funding to support the rapid advancement of vaccines, treatments, and therapies in response to COVID-19.

|News|

The home, listed at $24 million, has an annual property tax bill of $109,000. See inside:

See Inside The Most Expensive Home For Sale In Suburban Philly

Applicants were required to make a 1:1 monetary match and the scope of the project period is not to exceed nine months in length.

Some of the projects awarded funding include those that will study the use of cancer medications on COVID-19 patients; the development of a research and training space to accelerate the pace of COVID-19 treatment development; the acceleration of vaccine development efforts; and the development of a protective antibody for at-risk individuals, including the elderly, among other innovative and promising new ideas.

Funding for the program was appropriated from the Act 2A of 2020, known as the COVID-19 Emergency Supplement to the General Appropriation Act of 2019, to the Pennsylvania Department of Health (DOH), to be administered through a Notice of Subgrant by the Pennsylvania Department of Community and Economic Development’s (DCED) Office of Technology and Innovation.


Source link