Chrysalis BioTherapeutics Receives Funding from the National Institutes of Health for COVID-19 Therapeutic Development

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.