National Institutes of Health award grant to Progenics Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Wednesday, 06 October 2010 09:00

Progenics Pharmaceuticals, Inc.’s (NASDAQ: PGNX) program to develop novel monoclonal antibodies to treat Clostridium difficile (C .difficile), received a grant of $ 4,143,652 from National Institutes of Health.
C. Difficile bacteria are the leading cause of hospital acquired diarrhea in the US and a serious global health hazard. Progenics treatment strategy is designed to block the harmful toxins produced by C. Difficile, and does not use antibiotics.

Progenics Pharmaceuticals, Inc.’s Founder, Chief Executive Officer and Chief Science Officer Paul J. Maddon, M.D., Ph.D. said “We are honored to receive this competitive NIH award and are gratified that NIH elected to support our program based on its scientific merit, innovation and therapeutic potential. The award acknowledges the growing burden of C. difficile infection and the need for innovative therapies that go beyond standard antibiotic approaches.”

NIH had instituted this award under the American Recovery & Reinvestment Act of 2009 to support projects that have the probability of enabling research processes in Public health, biomedical research and development and health care delivery and have high short term impact.

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