Allinaire Awarded $1.9M In New Grant Funding to Develop Treatments for Lung Diseases
CLEVELAND and INDIANAPOLIS, September 19, 2017 – Allinaire Therapeutics has been awarded a $1,670,000 Phase II SBIR grant from the National Heart, Lung, and Blood Institute (NHLBI) and a $213,000 Discovery Award from the Department of Defense (DOD). The NHLBI is one of the institutes in the National Institutes of Health.
The funding will support the development of a novel therapeutic for the treatment of respiratory disorders, including acute lung injury; Alpha-1 antitrypsin deficiency and chronic obstructive pulmonary disease (COPD).
“We are very excited to receive this new funding from the NHLBI and the DOD, which will be important to advancing Allinaire’s technology toward clinical trials as a novel medicine with potential for patients with several pulmonary diseases that have significant morbidity and mortality,” said Principal Investigator, Douglas Hay, Ph.D.
Allinaire was formed by BioMotiv, a biotech accelerator that is associated with the Harrington Project for Discovery & Development, Indiana University Research & Technology Corp (IURTC), BioCrossroads, and Innovate Indiana. The company’s lead project is based on technology exclusively licensed from IURTC.
Allinaire Therapeutics aims to develop novel therapeutics for Chronic Obstructive Pulmonary Disease (COPD) and other pulmonary diseases. The technology is based on the discovery by the scientific founders, Irina Petrache, MD, and Matthias Clauss, PhD, of a novel therapeutic target that plays a central role in the development and progression of lung disease and is licensed exclusively from Indiana University. Learn more at www.allinaire.com.
BioMotiv is the mission-driven accelerator associated with The Harrington Project for Discovery & Development, a $300 million initiative for advancing medicine centered at University Hospitals in Cleveland. The focus is to accelerate breakthrough discoveries from research institutions into therapeutics for patients through an innovative model that efficiently aligns capital and collaborations. The company leverages an experienced team and advisory board to select, fund, and actively manage and advance a portfolio of drug development programs. Learn more at www.biomotiv.com.