PIKAMAB awarded QTDP program grants to advance development of theragnostic products

Nov 4 2010

PIKAMAB, a biopharmaceutical company specializing in stratified medicine, announced today that it has been awarded two grants by the U.S. Government under the QTDP program to advance the development and commercialization of two theragnostic products: ADCC Therasight^TM and Lupus Therasight^TM. PIKAMAB applied for two grants, both of which qualified and received the maximum grant amounts totaling approximately $488,959.

"We are very appreciative of the recognition and support for further development of our theragnostic products. We expect our proprietary patient stratification platforms to have transformative applications in improving the clinical trial outcomes of antibody therapies and the way we treat follicular lymphoma (B-NHL), lupus, and lupus nephritis," commented Vijay Ramakrishnan, Ph.D., President and CEO of PIKAMAB.

The QTDP program is designed to provide grants or tax credits, as determined by the U.S. Department of Health and Human Services, to qualified biotechnology companies that demonstrate reasonable potential to (a) develop new therapies to treat cancers or chronic diseases of unmet medical needs; (b) reduce long-term health care costs in the United States; or (c) significantly advance the goal of curing cancer.