Clinical Data receives $500,000 grants under QTDP program

Nov 8 2010

Clinical Data, Inc. (NASDAQ: CLDA) today announced that the Company has received two grants totaling nearly $500,000 under the Qualifying Therapeutic Discovery Project. These grants were awarded to Clinical Data for research and development efforts related to its two late-stage programs: vilazodone, the Company's novel antidepressant, and Stedivaze, a coronary vasodilator for use in nuclear-SPECT myocardial perfusion imaging. A New Drug Application for vilazodone was accepted for review by the U.S. Food and Drug Administration (FDA) on May 21, 2010 with January 22, 2011 currently assigned for decision-making by the FDA under the Prescription Drug User Fee Act (PDUFA). Stedivaze is currently in Phase III development.

“We are pleased that our continued efforts to develop innovative therapies have been recognized with these grants, which are awarded to companies whose projects show the greatest potential to result in new treatments for unmet medical needs, or to prevent or detect diseases”

"We are pleased that our continued efforts to develop innovative therapies have been recognized with these grants, which are awarded to companies whose projects show the greatest potential to result in new treatments for unmet medical needs, or to prevent or detect diseases," said Drew Fromkin, President and CEO of Clinical Data. "The additional resources will assist us in our ongoing preparations for the launch of vilazodone upon approval and the continued development of Stedivaze, as well as advancing other promising therapeutic programs."

Source: Clinical Data, Inc.