Celsion Corporation (Nasdaq: CLSN) today announced that the company has been awarded a $244,000 grant under the Qualifying Therapeutic Discovery Project (QTDP) program under The Patient Protection and Affordable Care Act of 2010 (PPACA). This maximum grant amount for a single program was awarded to Celsion for its Thermodox® clinical development program, which is currently conducting clinical trials for primary liver cancer and recurrent chest wall breast cancer. The funds will be used for development expenses.
"We are very pleased to be a QTDP grant recipient, and be recognized by the U.S. Government for investment in the ThermoDox® oncology program," stated Mr. Michael H. Tardugno, Celsion's President and Chief Executive Officer. "The investments we have made to date will not only benefit cancer patients, but eventually create value-added jobs in the United States of America. Investing in the biopharma industry is vital to our economy."
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