Plakous Therapeutics Awarded $1.7 Million Fast-Track SBIR Grant from NIH to Develop Therapies for Necrotizing Enterocolitis

WINSTON-SALEM, N.C., July 7, 2020 /PRNewswire/ -- Plakous Therapeutics, Inc. received a notice of award for a Phase I-II Fast-Track Small Business Innovation Research (SBIR) grant providing up to $1,725,000 from the Eunice Kennedy Shriver National Institute of Child Health and Human Development at the National Institutes of Health (NIH). The grant will assist Plakous' development of novel therapies for preventing the devastating and costly disease of premature babies, Necrotizing Enterocolitis (NEC).  Plakous Therapeutics' Chief Scientific Officer, Seth Tomblyn, PhD, is the Principal Investigator for the three-year project.

"This grant, combined with our recent orphan drug and rare pediatric disease designations from the FDA, allows Plakous to take the next steps toward preventing NEC, which has no approved treatment or diagnostic tests. Plakous is delighted to receive the SBIR grant from the NIH, which validates our scientific and business approach," said Robert Boyce, Chief Executive Officer of Plakous Therapeutics.

"This award will fund the potency and preclinical effectiveness milestones for an Investigational New Drug (IND) filing for Protego-PD^TM, an orally delivered acellular biotherapeutic developed by Plakous from post-delivery placentas. The grant will complement our currently open $4M seed round to complete the IND filing requirements," said Boyce.

NEC is a devastating disease caused by inflammation and lack of development of the intestine. More than 90% of the 6,000 annual cases in the United States occur in very low birth weight babies (VLBWB), those babies born weighing less than three pounds. NEC carries a 30% mortality rate.  Managing NEC consumes 20% of the $5 billion annual NICU expenditures plus an estimated $4 billion in hospital costs for subsequent treatments. Plakous seeks to prevent NEC with Protego-PD^TM by accelerating intestinal maturation of premature infants.

About Plakous Therapeutics, Inc.
Plakous Therapeutics is a biotherapeutic company dedicated to researching and developing placenta derived regenerative therapies to improve patient outcomes and reduce health care costs. For more information please visit the company's website at plakoustherapeutics.com.

Disclaimer:   Research reported in this publication was supported by the Eunice Kennedy Shriver National Institute of Child Health & Human Development of the National Institutes of Health under Award Number R44HD100243. The content is solely the responsibility of the authors and does not necessarily represent the official views of the NIH.

SOURCE Plakous Therapeutics, Inc.