BioAxone BioSciences announced it is the recipient of a grant award from the National Institute of Neurological Disorders and Stroke (NINDS), part of the agency's SBIR Phase II funding program. This two-year grant provides funding for further development of BioAxone's preclinical candidate BA-434, a novel sd-rxRNA compound that targets PTEN for the treatment of spinal cord injury.
"We chose RXi's proprietary self-delivering RNAi technology because of the simplicity and proven efficacy of in vivo delivery to the central nervous system," said Dr. Lisa McKerracher, Founder and Chief Executive Officer at BioAxone BioSciences. "Spinal cord injury is an unmet need, and new therapeutics are urgently needed to promote axon regeneration and reduce paralysis."
BioAxone has been awarded a total of $1,794,895 to fund the collaborative project over 24 months. During the first year, BioAxone will receive $735,822 with the remaining balance awarded in the second year after achieving certain milestones. For their contribution, RXi will receive approximately $129,000 in the first year with the potential to receive an additional $118,800 in the second year after achieving certain milestones. Under this grant (R44NS084489), entitled "Development of self-delivering RNAi targeted to PTEN for treatment of spinal cord injury," BA-434 will be further developed to silence PTEN, a protein known to be an intrinsic barrier to regeneration, thereby supporting regeneration in the adult central nervous system.
The Small Business Innovation Research (SBIR) program was created by the U.S. Congress to strengthen the role of small, innovative companies in federally supported research and development. It is one of the largest sources of early-stage technology financing in the U.S. The National Institute of Neurological Disorders and Stroke (NINDS) is the nation's leading funder of research on the brain and nervous system and a component of the National Institutes of Health (NIH). The content in this press release is solely the responsibility of RXi and BioAxone and does not necessarily represent the official view of NINDS or the NIH.