Access Pharmaceuticals receives $1.5 million in government grants

ACCESS PHARMACEUTICALS, INC. (OTC Bulletin Board: ACCP), a biopharmaceutical company leveraging its proprietary drug-delivery platforms to develop treatments in areas of oncology, cancer supportive care and diabetes, announced it has been awarded $1.5 million in government grants. Under the recently enacted Patient Protection and Affordable Care Act, cash grants were awarded to Qualifying Therapeutic Discovery Projects that showed significant potential in producing new and cost-saving therapies, support job growth and increase U.S. competitiveness. Grants were awarded through a competitive application process, and seven out of eight Access Pharmaceutical applications were awarded.

"We are pleased to have been awarded these grants, and believe it reflects the considerable value of the Access development programs," said Jeffrey Davis, President and CEO, Access Pharmaceuticals.  He continued, "Given the recent launch of our oral mucositis product, MuGard, and our ability to manage our cash burn through multiple partnerships, we believe these grants will significantly impact our balance sheet and product development timelines."