Chrysalis BioTherapeutics Receives Funding from the National Institutes of Health for COVID-19 Therapeutic Development
Chrysalis BioTherapeutics Receives Funding from the National Institutes of Health for COVID-19 Therapeutic Development
06/10/20, 6:44 PM
Location
galvestonMoney raised
$912
Industry
biotechnology
healthcare
Round Type
pre-seed
Chrysalis BioTherapeutics, Inc., a clinical-stage biotechnology company developing regenerative drugs for acute organ injury caused by radiation exposure, announced today that the National Institute of Allergy and Infectious Disease (NIAID), part of the National Institutes of Health, awarded Chrysalis $912,157 to fund preclinical development of its investigational drug TP508 for SARS-CoV-2 infection. The contract award includes an option to conduct a Phase I human clinical trial to demonstrate safety prior to initiating efficacy trials in COVID-19 patients.
Company Info
Location
2200 market st, suite 606
galveston, texas, united states
Additional Info
Chrysalis BioTherapeutics, Inc. is a biopharmaceutical development company located in Galveston, TX. TP508 (rusalatide acetate) is licensed from The University of Texas Medical Branch (UTMB) at Galveston, TX. Although TP508 has shown potential efficacy in stimulating early tissue repair in human clinical trials, it is not yet FDA-approved and is currently only available for investigational use.