Epeius Biotechnologies Corporation, a leader in the emerging field of targeted genetic medicine, announced today the receipt of additional financial support for the company's lead oncology product, Rexin-G, from the U.S. Departments of Treasury, Health and Human Services (HHS), and the National Institutes of Health (NIH) in the form of a prestigious competitive grant. This latest support for the clinical advancement of Rexin-G comes from the Qualifying Therapeutic Discovery Project (QTDP) program, created as a component of the Patient Protection and Affordable Care Act of 2010 to support projects that are determined by the HHS to have significant potential (i) to develop innovative new treatments to address major unmet medical needs, (ii) to reduce long-term health care costs, (iii) to represent significant medical progress toward an eventual treatment/cure for cancer, (iv) to advance U.S. competitiveness in the fields of life science and medical technologies, and (v) to create and/or sustain well-paying jobs in the United States.
This meritorious tranche of U.S. Government support for Rexin-G, the world's first and, so far, only targeted injectable genetic medicine for cancer that has been validated in clinical trials, represents the latest formal declaration of the potential importance, competitiveness, and overall merit of the platform of highly-advanced molecular biotechnologies and nanotechnologies embodied in this targeted injectable anticancer agent. "We are very pleased with this formal recognition and support of our medical mission, for it represents a continuing commitment to develop the high-value products and intellectual properties of this company for the benefit of all," said Lina Kabayan, Epeius CFO who spearheaded this latest grant submission.
From the first National Science Foundation (NSF) and NIH grants awarded to the founders of Epeius Biotechnologies, to the American Heart Association (AHA) which provided funding to support the cardiovascular targeting technologies, to the Office of Orphan Products Development (OOPD) which provided funding for the first clinical trials in the U.S., and which ultimately granted Orphan Drug Status to Rexin-G for three separate clinical indications (pancreatic cancer, soft tissue sarcoma, and osteosarcoma), to the U.S. FDA which granted Fast Track Status to Rexin-G for chemotherapy-resistant pancreatic cancer, the continuing federal support for these vital medical technologies is a testament that basic science and innovation in the service of medicine is still alive and well in America.
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