CorMatrix Cardiovascular, Inc., a medical device company dedicated to developing and delivering unique extracellular matrix (ECM) biomaterial devices that harness the body's innate ability to repair damaged cardiovascular tissue, today announced that the Company has been awarded $2.3 million in grants under the U.S. Government's Qualifying Therapeutic Discovery Project (QTDP) program to advance the development of their unique ECM technology.
“These funds will enhance our ability to continue developing regenerative cardiovascular technologies for patients, and to generate an ever more compelling body of clinical data supporting their use.”
The grant targets therapeutic discovery projects that show promise in developing new therapies to address areas of unmet medical need, or to treat chronic or acute diseases and conditions, potentially resulting in reduced health care costs. CorMatrix received the grant because of the potential of its ECM Technology to improve cardiovascular disease treatment and outcomes. Funds will be used for ongoing research into tissue regeneration, heart failure applications, drug-eluting ECM development, and to evaluate the CorMatrix ECM's potential in reducing new onset post-operative atrial fibrillation.
"We are pleased that the promise of our ECM Technology has been recognized and validated in this rigorous grant process," commented President and Chief Operating Officer Beecher Lewis. "These funds will enhance our ability to continue developing regenerative cardiovascular technologies for patients, and to generate an ever more compelling body of clinical data supporting their use."
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