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Genta Incorporated (OTCBB: GNTA) $0.05. Today announced that the Company has been awarded cash grants totaling approximately $488,958 under the U.S. Government's Qualifying Therapeutic Discovery Project (QTDP) program. The awards are intended for projects designed to treat or prevent diseases by conducting studies for the purpose of securing approval from the U.S. Food and Drug Administration.
Genta applied for two projects, both of which qualified and received the maximum grant amounts, including:
Genasense (oblimersen sodium) Injection for the treatment of patients with advanced melanoma. Genasense is a modified DNA-based antisense drug that may enhance the effectiveness of anticancer therapy. Genta has completed enrollment in a randomized, double-blind Phase 3 study of Genasense in patients with advanced melanoma, known as “AGENDA”. Final data on survival and durable response from AGENDA are expected in the first half of 2011.Tesetaxel, a novel oral taxane, for treatment of patients with cancer. Tesetaxel, an orally absorbed capsule containing the active ingredient, was developed with goals of eliminating hypersensitivity reactions, reducing nerve damage, overcoming a common mechanism of drug resistance, and increasing patient convenience.
What They Do: Genta Incorporated is a biopharmaceutical company with a diversified product portfolio that is focused on delivering innovative products for the treatment of patients with cancer.
Advanced Cell Technology (OTCBB: ACTC) $.05. Today announced that it has received a $977,917 grant under The Patient Protection and Affordable Care Act of 2010 (PPACA). The grant was related to four of the Company’s projects: the Blastomere Program, the Myoblast Program, the RPE Program for Stargardt’s Disease, and the iPS Program. The grants were for $244,479.25 each, for a total grant of $977,917.00. The funds are exempt from federal income taxes.
The PPACA provides small and mid-sized biotech, pharmaceutical and medical device companies with a tax credit for investments in qualified therapeutic discoveries for tax years 2009 and 2010, or a grant for the same amount, tax-free. The tax credit/grant program covers research and development costs from 2009 and 2010 for all qualified “therapeutic discovery projects.”
What They Do: Advanced Cell Technology, Inc. is a biotechnology company applying cellular technology in the field of regenerative medicine.
Advanced Life Sciences Holdings (OTCBB: ADLS) $0.03. Today announced that it has entered into a Cooperative Research and Development Agreement ("CRADA") with The Walter Reed Army Institute of Research. The purpose of this CRADA is to allow The Walter Reed Army Institute of Research to perform advanced animal efficacy testing of Restanza (cethromycin), the Company's novel oral antibiotic, against various Plasmodium species that cause malaria. This CRADA is built on the positive in vitro and in vivo efficacy results that Restanza demonstrated in initial studies with Walter Reed.
In May 2010, the Company announced that preliminary in vitro and in vivo studies had been conducted to access the efficacy of Restanza against the species of Plasmodium that cause malaria. In the in vitro study comparing Restanza to azithromycin, Restanza showed two to ten-fold greater efficacy against Plasmodium falciparum with the IC50 and IC90 levels, respectively, ranging from 0.2 to 2.7 and 0.6 to 6.2 ug/mL, regardless of chloroquine susceptibility. Most notably, in the in vivo study, Restanza showed 100% efficacy in treating mice infected with Plasmodium berghei and was approximately three-fold more potent than azithromycin at half of the same dose.
What They Do: Advanced Life Sciences is a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases.
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