Printer Friendly

ZYMETX WILL APPLY GRANTS TO COMMERCIALIZE VIRAL DIAGNOSTICS.

ZymeTx, Inc. (Nasdaq/NM:ZMTX), Oklahoma City, The Viral Disease Management Company(TM), will apply over $300,000 in recently awarded research grants toward advancing established viral diagnostics scientific initiatives for commercial development, announced Norman Proulx, president and CEO of ZymeTx, Inc.

The National Institute of Allergy and Infectious Disease has awarded ZymeTx a Phase I Small Business Innovative Research (SBIR) grant in the amount of $99,660 to fund development of a therapeutic treatment for Respiratory Syncytial Virus (RSV). RSV causes severe respiratory infections in infants and children and is the most common cause of bronchiolitis and pneumonia.

ZymeTx will use a three-year $213,280 grant from the Oklahoma Center for the Advancement of Science and Technology (OCAST) to fund additional commercial development of a newer, novel platform technology for rapid and sensitive detection of influenza and other viruses.

"Grants from these two distinguished organizations reflect a high level of confidence in the scientific expertise at ZymeTx," stated Proulx. "Furthermore, it further validates the science being pursued by ZymeTx scientists within the competitive worldwide academic and industrial communities. These scientists have revolutionized influenza disease management by successfully bringing to market the world's first rapid point-of-care flu diagnostic test, ZstatFlu(R)."

"Our influenza and RSV research programs have targeted two significant causes of morbidity and mortality from respiratory viral disease," stated Dr. Craig Shimasaki, Vice President of R&D and Operations at ZymeTx, Inc. "Funding the development of a more sensitive viral diagnostic platform technology represents an important step toward the eventual introduction of the next-generation viral diagnostic. A new therapeutic for the treatment of RSV will further strengthen our position as a viral disease management company."

The SBIR grants are awarded according to a rigorous scientific peer review process. Phase I funding maximum is $100,000 for six months. Successful programs become eligible to apply for Phase II funding of $1,000,000 for continued commercial development. The U.S. government stimulates economic development of technologies that are innovative and worthy of continuing through SBIR grants, while the company retains the worldwide patent rights to any invention developed with federal government support.

OCAST is a state agency that appropriates funding for new technology in Oklahoma through a similar scientific review process. Oklahoma's Economic Development Act of 1987 formed OCAST and has funded innovative research in the state with over $100 million.

ZymeTx, Inc., is an emerging biotechnology company engaged in the development of unique products for the diagnosis and treatment of viral disease, viral management and disease surveillance. The company developed ZstatFlu, the world's first rapid point-of-care test capable of detecting both Influenza A and B, and the National Flu Surveillance Network (NFSN), a network of surveillance sites located across the country with physicians using ZstatFlu to track influenza in their communities and practices. ZstatFlu and the National Flu Surveillance Network are trademarks of ZymeTx, Inc.

For more information, call 405/271-1314 or visit www.zymetx.com.
COPYRIGHT 2000 Worldwide Videotex
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Biotech Business
Date:Sep 1, 2000
Words:488
Previous Article:PPGX LAUNCHES GENETRIALS BIOINFORMATICS PLATFORM.
Next Article:THERMOGEN AWARDED PHASE I SBIR GRANT TO DEVELOP NEW AMIDASES.
Topics:


Related Articles
Patent issues to Visible Genetics for combination HIV viral load and genotyping test.
Dyax issued fourth patent for phage display.
Gen-Probe signs agreement for licensing armored RNA standards from Ambion and Cenetron.
ZYMETX REPORTS NET LOSS FOR FOURTH QUARTER.
Novavax receives important patent covering the production of viral vaccines in a proprietary cell line.
Viragen granted interferon patent.
FDA GRANTS ADDITIONAL CLEARANCE FOR VIROSEQ HIV-1 GENOTYPING.
Primagen and Delphic form toxicity assay distribution and licensing agreement.
Primagen and University of British Columbia enter mitochondrial DNA licensing agreement detection.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters