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news.The National Institutes of Health (NIH) has awarded a $600,000 Advanced Technology Small Business Innovation Research Grant to Innovimmune Biotherapeutics for the development of the latter's proprietary oral small molecule macrophage migration inhibitory factor (MIF) inhibitors for the potential treatment of rheumatoid arthritis.
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Innovimmune research team of autoimmune and immunoinflammation diseases has discovered oral small molecule cytokine inhibitors that exhibit a novel mode of binding to MIF.
Innovimmune President and CEO of Anderson Gaweco said, "This federal grant support from the National Institute of Allergy and Infectious Diseases, part of the NIH, underscores the potential and quality of our science and our structure-based drug design platform, which enables our team to advance the development of promising oral disease-modifying antirheumatic drugs (DMARDs) and novel therapies for autoimmune diseases."
New York City Economic Development Corporation (NYCEDC)vice president Lenzie Harcum said, "This grant demonstrates the enormous talent and innovation that exists within New York City’s biotechnology companies."
New York City-based Innovimmune Biotherapeutics is a specialty drug discovery and exploratory development biotechnology company leading the development of proprietary oral small molecule New Molecular Entity immunomodulatory drugs.