ExonHit Therapeutics Awarded Two Discovery Grants By The US Federal Government

ExonHit Therapeutics (Paris:ALEHT)(Alternext: ALEHT) announced that the Company was awarded two grants to support two of its Research & Development projects under the Qualifying Therapeutic Discovery Project Program: AclarusDx™ in Alzheimer's disease and the EHT 107 program in oncology.


"We are excited to benefit from these grants as they are a recognition of the potential medical benefit of AclarusDx™ and the EHT 107 program," said Matthew Pando, PhD, Executive Vice President, Therapeutics of ExonHit Therapeutics. "These awards also further highlight the ability of our Genome-Wide SpliceArray™ discovery platform to generate both innovative diagnostic and therapeutic products. These grants will contribute to support the ongoing development of two programs targeting areas of high medical need."


These two grants totaling USD 0.3 million were awarded to ExonHit by the U.S. Secretary of Health and Human Services to support its Alzheimer's disease and oncology research and development projects. Among the determining criteria used by the Secretary in allocating funds were those projects that show potential to result in new therapies to treat areas of unmet medical need.


About the Qualifying Therapeutic Discovery Project Program


The Qualifying Therapeutic Discovery Project Program (QTDP) was created by the U.S. Congress as part of the recent health legislation reform (Patient Protection and Affordable Care Act of 2010) and is designed to foster biotechnology growth and innovation. The program also seeks to create and sustain biotechnology jobs in the US. QTDP grants are awarded to companies with fewer than 250 employees for projects related to the treatment or prevention of diseases through the conduct of preclinical or clinical studies.


The project recipients, jointly selected by the Treasury Department and the Department of Health and Human Services (HHS), were required to demonstrate preclinical or clinical research costs incurred in 2009 or 2010 expended on projects fulfilling specific criteria. More precisely, the grant targets therapeutic discovery projects that show a reasonable 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, or

- Significantly advance the goal of curing cancer within 30 years.


Source:

ExonHit Therapeutics