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Pharma Tech Outlook | Friday, August 13, 2021
Praxis announces that it has been granted a Fast-Track SBIR award to develop a therapy for Alzheimer's disease apathy.
FREMONT, CA: Praxis is happy to announce that it has been granted a Fast-Track SBIR award to develop a therapy for Alzheimer's disease apathy. The $2.9 million awards, which is in its second year, will fund the IND-enabling work to progress the Company's lead candidate, PRX-P4-003, a new dopaminergic stimulant prodrug for the treatment of apathy in Alzheimer's disease.
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"Apathy is the most prevalent neuropsychiatric symptom of dementia," said Jacobo Mintzer, MD, MBA, Director, South Carolina Institute for Brain Health, and Study Chair for Apathy in Dementia Methylphenidate Trials. "It affects 71% of patients suffering from dementia over the course of the disease. Apathy has been associated with patient suffering, caregiver distress, and excess disability. There is no approved treatment for apathy in dementia today. I am delighted to see this prestigious award providing evidence of the of collaboration between bio-pharmaceutical companies and the National Institutes of Health in the development of new treatments for these devastating symptoms of dementia."
According to Bill Potter MD PhD, Principal Investigator of the grant award and widely respected neuroscience expert, "With evidence in place that the prodrug has the desired special properties in humans, what makes this grant award especially notable is that it supports critical components of developing a compound with an unusually high probability of meeting regulatory requirements and addressing a critically important clinical need. I am optimistic that the current project will provide a case for this funding model to be expanded."
Praxis Bioresearch is a clinical-stage biopharmaceutical business dedicated to discovering and developing new medicines for chronic CNS illnesses.
"We are honored to receive this highly competitive SBIR award from National Institute of Aging as we work continuously to build upon the pioneering findings on treating apathy by the ADMET group. The funding will support advancement of PRX-P4-003 to early clinical development," said Sandeep Patil, PhD, MD, chief executive officer of Praxis Bioresearch.
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