For Immediate Release:
July 29, 2014
Traverse Biosciences Receives $223,797 Phase I Small Business Technology Transfer (STTR) Award in Partnership with the Feinstein Institute for Medical Research, part of the North Shore-LIJ Health System
Funding from the National Institute on Aging (NIA) of the National Institutes of Health (NIH) to Evaluate the Effectiveness of TRB-N0224 for the Treatment of Osteoarthritis
Stony Brook, NY; July 29, 2014: Traverse Biosciences announced today that it has received a $223,797 Phase I Small Business Technology Transfer (STTR) award in partnership with the Feinstein Institute for Medical Research, part of the North Shore-LIJ Health System. Funding from the National Institute on Aging (NIA) of the National Institutes of Health (NIH) will be used to evaluate the effectiveness of the company’s lead drug candidate, TRB-N0224, for the treatment of osteoarthritis (OA). The research at the Feinstein Institute will be led by Daniel A. Grande, PhD, Director, Orthopaedic Research Laboratory, who will serve as principle investigator on the award in close collaboration with Traverse Biosciences.
OA is the most common form of musculoskeletal disease, affecting approximately 27 million Americans, and it is a leading cause of disability worldwide. OA is characterized by the breakdown of a joint’s cartilage and underlying bone, with the knee, hip, hand, spine, and foot being most susceptible. OA is also prevalent in companion animals, causing pain and impacting the mobility of cats, dogs and horses, particularly as they age.
Joseph Scaduto, MS, MBA, Founder and President of Traverse Biosciences stated, “We are working to successfully commercialize TRB-N0224 as an FDA-approved pharmaceutical intervention for the treatment of OA in both humans and companion animals, and we intend to aggressively pursue pre-clinical and clinical development to demonstrate the safety and efficacy of this lead drug candidate.”
Dr. Grande of the Feinstein Institute for Medical Research stated, “TRB-N0224 represents an innovative therapeutic approach which focuses not only on the alleviation of the symptoms of OA, but also on the regeneration and protection of the affected cartilage and joints.” He added, “Our team is very pleased to collaborate with Traverse Biosciences to help commercialize this unique technology with applications in veterinary medicine and human health.”
Kevin Tracey, MD, President and CEO of the Feinstein Institute for Medical Research said, “The highly competitive Small Business Technology Transfer program provides critical funding to emerging bioscience companies to pursue innovative research with the potential to impact human health and society.” He added, “The Feinstein Institute is well-positioned to partner with Traverse Biosciences to utilize these funds to achieve commercially-relevant technical milestones, and to help drive TRB-N0224 towards market.”
About the Feinstein Institute for Medical Research: Headquartered in Manhasset, NY, The Feinstein Institute for Medical Research is home to international scientific leaders in many areas including Parkinson’s disease, Alzheimer’s disease, psychiatric disorders, rheumatoid arthritis, lupus, sepsis, human genetics, pulmonary hypertension, leukemia, neuroimmunology, and medicinal chemistry. The Feinstein Institute, part of the North Shore-LIJ Health System, ranks in the top 6th percentile of all National Institutes of Health grants awarded to research centers. For more information, visit www.FeinsteinInstitute.org.
About Traverse Biosciences: Traverse Biosciences is a privately-held emerging bioscience company launched to commercialize a proprietary pipeline of drug candidates to treat inflammatory diseases and age-related conditions affecting humans and companion animals. The company’s lead compound, TRB-N0224, is envisioned as the first FDA-approved, once-daily, edible prescription medication for the prevention of canine periodontal disease. For more information, follow Traverse Biosciences on LinkedIn, or visit www.traversebiosciences.com.
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