SAN DIEGO, July 21, 2021 /PRNewswire/ -- Paramita
Therapeutics, Inc. (Paramita) has been
awarded a National Science Foundation Small Business
Innovation
Research grant for $255,990 to
conduct research and development work on a novel dual-function
therapeutic/vaccine product, designated as TheraVax™.
TheraVax not only can block entry of SARS-CoV-2 but also can
activate the immune system to produce effector T cells and
neutralizing antibodies to eliminate SARS-CoV-2. This unique
dual-function therapeutic/vaccine could work at an early stage of
infection to prevent hospitalization and in mild or severe disease
to block viral spread while activating appropriate immune
responses.
"NSF is proud to support the technology of the future by
thinking beyond incremental developments and funding the most
creative, impactful ideas across all markets and areas of science
and engineering," said Andrea Belz,
Division Director of the Division of Industrial Innovation and
Partnerships at NSF. "With the support of our research funds, any
deep technology startup or small business can guide basic science
into meaningful solutions that address tremendous needs."
"The multivalent chemical conjugation platform that we are
developing for COVID-19 will work with other viruses and even
cancer cells. Therefore, our platform will have revolutionary
impact on society as a whole, not only impacting on the current
pandemic but also thwarting future pandemics while providing novel
therapies for cancer," said Dr. Sang
Van, CEO, Paramita
Therapeutics, Inc.
Once a small business is awarded a Phase I SBIR/STTR grant, it
becomes eligible to apply for a Phase II (up to $1 million). Small businesses with Phase II
funding are eligible to receive up to $500,000 in additional matching funds with
qualifying third-party investment or sales.
About Paramita Therapeutics, Inc.: Paramita is an
early-stage specialty biotech company focused on developing new
therapeutics for cancer and infectious diseases. Paramita can
quickly move these new therapeutics to the clinic with our
innovative, patented, simple multi-functional chemical platform
developed by Dr. Sang Van. We intend
to leverage this technology to produce novel multivalent drug
conjugates based on known/approved molecules with established
safety and toxicology profiles. This strategy allows us to bypass
or streamline the extremely expensive and time-consuming
process. 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
About the National Science Foundation's Small Business
Programs: America's Seed Fund powered by NSF awards
$200 million annually to startups and
small businesses, transforming scientific discovery into products
and services with commercial and societal impact. Startups working
across almost all areas of science and technology can receive up to
$2 million to support research and
development (R&D), helping de-risk technology for commercial
success. America's Seed Fund is congressionally mandated through
the Small Business Innovation Research (SBIR) program. The NSF is
an independent federal agency with a budget of about $8.5 billion that supports fundamental research
and education across all fields of science and engineering.
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SOURCE Paramita Therapeutics, Inc.