Panacea Pharmaceuticals Awarded $880,000 NIH Grant for Stroke Treatment Research

Strategic Insights -

Panacea Pharmaceuticals, a privately-held biopharmaceutical company, has been awarded a $880,000 Phase II Small Business Innovation Research (SBIR) grant from the National Heart, Lung and Blood Institute (NHLBI) of the National Institutes of Health (NIH) to develop a novel drug for treating ischemic stroke. The company has identified a lead compound, PAN-811, which demonstrates a powerful neuroprotective effect in animal stroke models.

The company's research is focused on developing a treatment for ischemic stroke, a condition that occurs when the blood supply to part of the brain is interrupted, leading to brain cell death. This type of stroke accounts for 80% of all stroke cases and is a leading cause of death and disability worldwide. Currently, there are no available neuroprotective treatments for ischemic stroke, making PAN-811 a promising potential treatment.

"We are excited about the potential of PAN-811 as a neuroprotective agent," commented Hossein Ghanbari, CEO and Chief Scientific Officer at Panacea Pharmaceuticals. "The safety of PAN-811 in humans has already been demonstrated, and we are optimistic about its potential to significantly improve neurologic function in individuals who have suffered a stroke."

Key Takeaways:

  • Panacea Pharmaceuticals has been awarded a $880,000 Phase II SBIR grant from the NIH to develop a novel drug for treating ischemic stroke.
  • The company has identified a lead compound, PAN-811, which demonstrates a powerful neuroprotective effect in animal stroke models.
  • The research is focused on developing a treatment for ischemic stroke, a condition that occurs when the blood supply to part of the brain is interrupted, leading to brain cell death.
  • PAN-811 has demonstrated safety in humans and is being developed as a potential treatment for ischemic stroke.
  • The company's product pipeline includes the development of antibodies directed against Human aspartyl (asparaginyl) Beta-hydroxylase (HAAH) as novel agents for the treatment of cancer.
  • Panacea anticipates the initiation of its diagnostic testing services for cancer later in 2006.

Statistics:

  • The grant award is $880,000
  • Ischemic stroke accounts for 80% of all stroke cases
  • Stroke is the third leading cause of death in the U.S.
  • There are currently no available neuroprotective treatments for ischemic stroke
  • PAN-811 has demonstrated a 59% reduction in infarct volume in the middle cerebral artery occlusion rat model of stroke
  • Panacea Pharmaceuticals anticipates the initiation of its diagnostic testing services for cancer in 2006

Sources:

  • PRNewswire-AsiaNet
  • National Heart, Lung and Blood Institute (NHLBI) of the National Institutes of Health (NIH)
  • Panacea Pharmaceuticals, Inc. website: http://www.PanaceaPharma.com