TheraSource LLC receives $3M SBIR Grant
May 12, 2016
TheraSource LLC, a Feinstein Institute for Medical Research spin-out, has received a $3 million three-year Small Business Innovation Research (SBIR) grant from the National Institute of Allergy and Infectious Diseases (NIAID), which is part of the National Institutes of Health (NIH). The grant will support the development of human ghrelin as an innovative treatment to alleviate health damage caused by unintentional radiation exposure.
TheraSource has been a client of the Center for Biotechnology and the organization is proud to have played an integral role in the helping the company advance their business and technology strategy. As noted by Diane Fabel, Director of Operations for the Center for Biotechnology, “The Phase II award for TheraSource is a significant landmark for the company and an important milestone for the region.”
Ping Wang, MD, founder of TheraSource and Chief of Scientific Officer (CSO) of the Feinstein Institute has stated “Human ghrelin has been investigated in clinical trials of other indications. With our new findings, we will soon be able to file an Investigational New Drug application to US Food and Drug Administration,” said Dr. Wang. “TheraSource has received investments to fund its various projects and is seeking strategic partnerships towards the goal of clinical development and commercialization.”
For more details, read the company’s press release here.