BRONX, N.Y.--(BUSINESS WIRE)--Oligomerix, Inc., a privately held company pioneering the development of disease-modifying therapeutics for Alzheimer’s disease and related neurodegenerative disorders, announced today the award of a Small Business Innovation Research Phase IIb grant for $1.98 million from the National Institutes of Health, National Institute on Aging.
There is a critical unmet need for disease-modifying drugs for Alzheimer’s disease and related dementias. Chronic treatment strategies require safe, effective, convenient and economically feasible approaches such as small molecule drugs. This program is advancing to fill this need which, if successful, can have a tremendous impact on the more than five million Americans who currently have Alzheimer’s (projected to be 16 million in the US and 100 million globally by 2050) and their caregivers, and can help reduce the current cost of $259 billion (projected to be $1.1 trillion by 2050) to our nation.
Oligomerix will be working in close collaboration with Alzheimer’s expert Peter Davies, Ph.D., Director, Litwin-Zucker Center for Alzheimer’s Disease & Memory Disorders, The Feinstein Institute for Medical Research. James Moe, Ph.D., MBA, President and CEO of Oligomerix said “This award enables testing of our lead compound in two different mouse models that mimic the development of tau pathology in Alzheimer’s disease and frontotemporal dementia. We will continue to explore its in vivo activity building on positive results from an initial preventive study. Given that the development of tau pathology correlates well with cognitive impairment, we believe that targeting pathological tau aggregates will be effective using preventive or therapeutic treatment approaches. We are privileged to be working closely with Dr. Davies, a renowned leader in tau biology, who will independently perform these blinded studies.”
Oligomerix, Inc. is focused on the discovery and development of small molecule inhibitors and biomarkers targeting tau oligomers. The Company, founded in 2006, maintains an incubator laboratory at the Albert Einstein College of Medicine.
The Company is seeking strategic partners to help accelerate these important programs. For more information, visit www.oligomerix.com.
Research reported in this publication was supported by the National Institute on Aging of the National Institutes of Health under Award Number R44AG053150. “The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.”