Targeted Genetics Corporation Recommended for up to $2.4 Million in Funding by Depart
 

Targeted Genetics Corporation Recommended for up to $2.4 Million in Funding by Department of Defense

July 10, 2008: 07:30 AM EST



Targeted Genetics Corporation (NASDAQ: TGEN) announced today that the Department of Defense Amyotrophic Lateral Sclerosis Research Program of the Office of the Congressionally Directed Medical Research Programs has recommended grant funding to Targeted Genetics of up to $2.4 million, to be applied towards preclinical development of new therapies for amyotrophic lateral sclerosis (ALS).

Targeted Genetics plans to develop a small-molecule for an investigational new drug (IND) submission. This is based on the observations, by Targeted Genetics collaborator Dr. John Engelhardt at the University of Iowa, that genetic mutations known to be associated with ALS, lead to over-activation of NADPH oxidase which is associated with pathogenesis of ALS. The work proposed under this grant includes formulation development and preclinical pharmacokinetic and safety studies.

"Our candidate product has shown a potential to delay the onset and progression of disease in animal models of ALS and, if this ability translates to human subjects, the molecule could have a dramatic impact on survival and quality of life," said Principal Investigator, Barrie J. Carter, Ph.D., Executive Vice President and Chief Scientific Officer of Targeted Genetics.

Grant funding is subject to Targeted Genetics completing documentation and negotiations typical for government contract award processes.

About Amyotrophic Lateral Sclerosis

Amyotrophic lateral sclerosis (ALS), commonly known as Lou Gehrig's disease, is a progressive neurodegenerative disease affecting neurons in the brain and spinal cord. The degeneration of these motor neurons limits communication from the brain and spinal cord to muscle fibers throughout the body, leading to the inability of the brain to initiate and control muscle movement. Early symptoms of ALS often include muscle weakness, resulting in loss of control in arms and legs, speech, swallowing or breathing. There is no cure for ALS.

About Targeted Genetics Corporation

Targeted Genetics Corporation is a biotechnology company committed to the development of innovative targeted molecular therapies for the prevention and treatment of acquired and inherited diseases with significant unmet medical need. Targeted Genetics' proprietary Adeno-Associated Virus (AAV) technology platform allows it to deliver genes that encode proteins to increase gene function or RNAi to decrease or silence gene function. Targeted Genetics' product development efforts target inflammatory arthritis, AIDS prophylaxis, Leber's congenital amaurosis, congestive heart failure and Huntington's disease. To learn more about Targeted Genetics, visit Targeted Genetics' website at http://www.targetedgenetics.com.



http://money.cnn.com/news/newsfeeds/...re/0414635.htm