For Immediate Release:
September 27, 2017
Traverse Biosciences Accepted into the National Institutes of Health (NIH)
Commercialization Accelerator Program (CAP) for Phase II SBIR/STTR Awardees
Company to Participate in the Commercialization Transition Track (CTT)
Stony Brook, NY; September 27, 2017: Traverse Biosciences, an emerging bioscience company commercializing novel drug candidates for the treatment of inflammatory diseases and age-related conditions affecting animals and humans, announced today that the National Institutes of Health (NIH) has accepted the company into its competitive Commercialization Accelerator Program (CAP).
Hosted in partnership with the Larta Institute, NIH CAP is a 9-month program that is well-regarded for its combination of deep domain expertise and access to industry connections, which have resulted in measurable gains and accomplishments by participating companies. It is open only to NIH SBIR/STTR Phase II awardees, with only 80 slots available each year. The program enables participants to establish market and customer relevance, build commercial relationships, and focus on revenue opportunities available to them.
Last year, Traverse Biosciences announced that it had received a $1.3M Phase II Small Business Technology Transfer (STTR) award in partnership with the School of Dental Medicine at Stony Brook University.
In an Email notification, Mr. J.P. Kim, NIH SBIR/STTR Program Manager & NIH Extramural Data Sharing Policy Officer, stated, “The NIH CAP started in 2004 and continues to grow each year, and we are thrilled to welcome [Traverse Biosciences] to become among over 1,000 CAP alumni we have helped position for business growth and success.”
Participation in the Commercialization Transition Track (CTT) will offer Traverse Biosciences tools and customized approaches to help the company develop and execute on plans and activities critical to commercialization of its technology. Traverse Biosciences will also have an opportunity to receive direct feedback from executives and experts drawn from the life sciences industry, investment community, regulatory affairs, and research.
Mr. Joseph Scaduto, Founder and CEO of Traverse Biosciences, stated, “Acceptance into the competitive NIH Commercialization Accelerator Program will undoubtedly allow Traverse Biosciences to better position the company to attract and secure additional non-dilutive funding, private investment and established strategic partners to help commercialize our proprietary library of novel drug candidates.”
Traverse Biosciences is developing patented drug candidates that were co-invented by Dr. Francis Johnson, President of Chem-Master International Inc. and Professor of Chemistry and Pharmacology at Stony Brook University, and Dr. Lorne Golub, Distinguished Professor in the Department of Oral Biology and Pathology in the Stony Brook University School of Dental Medicine, both also Scientific Co-Founders of the company. Dr. Golub was previously the lead inventor of two FDA-approved products, Periostat® and Oracea®, the latter of which is now marketed by Galderma after the company acquired Collagenex Pharmaceuticals for $420M in 2008.
About Traverse Biosciences: Traverse Biosciences is a privately-held emerging bioscience company launched to commercialize a pipeline of novel drug candidates for the treatment of inflammatory diseases and age-related conditions affecting humans and animals. The company’s proprietary lead compound, TRB-N0224, is envisioned as the first FDA-approved, once-daily, edible prescription medication for the treatment and control of canine periodontal disease. To learn more about Traverse Biosciences, visit www.traversebiosciences.com.