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

Aug 11, 2020•almost 5 years ago

Amount Raised

$0

GalvestonBiotechnologyHealthcare

Description

Chrysalis BioTherapeutics, Inc., a clinical-stage biotechnology company developing regenerative drugs that target vascular endothelial and progenitor cells, announced today that the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), has provided additional funding in the amount of $587,995 to its contract with Chrysalis, bringing the total contract award to develop TP508 as a therapeutic for COVID-19 patients to $1.5 million.

Company Information

Company

Chrysalis Bio Therapeutics

Location

2200 MARKET ST, SUITE 606

Galveston, Texas, United States

About

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.

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