Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX), a specialty pharmaceutical company focused on the in-licensing, development and commercialization of proprietary branded pharmaceutical products and late-stage product candidates for the treatment of diseases and disorders in the central nervous system therapeutic area, today announced that it has been awarded a non-taxable grant of approximately $245,000 related to Silenor® (doxepin) under the Qualifying Therapeutic Discovery Project (QTDP) program included in the Patient Protection and Affordable Health Care Act of 2010.
To be eligible for the QTDP program, projects must show reasonable potential to result in new therapies to treat areas of unmet medical need; prevent, detect, or treat chronic or acute disease and conditions; reduce long-term health care costs in the United States; or significantly advance the goal of curing cancer within a 30-year period. In addition, preference was given to projects that showed the greatest potential to create and sustain (directly or indirectly) high quality, high-paying jobs in the United States, and advance United States competitiveness in the fields of life, biological, and medical sciences. Projects were reviewed by both the Treasury Department and the Department of Health and Human Services.
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