PALO ALTO, Calif.--(BUSINESS WIRE)-- Anacor Pharmaceuticals today announced that it was awarded approximately $1.5 million in grant funding from the United States Department of the Treasury under the Qualifying Therapeutic Discovery Project Program. Anacor will receive $1.4 million in November 2010 and $0.1 million in the first quarter of 2011.
The Qualifying Therapeutic Discovery Project Program, which is part of the recently enacted Patient Protection and Affordable Care Act of 2010, provides for $1 billion in federal funds to support research with the potential to produce new therapies for unmet medical needs.
About Anacor Pharmaceuticals
Anacor is a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. Anacor has discovered and is developing five clinical compounds, including its three lead programs: AN2690, a topical antifungal for the treatment of onychomycosis; AN2728, a topical anti-inflammatory PDE-4 inhibitor for the treatment of psoriasis and GSK 2251052, or GSK ‘052 (formerly referred to as AN3365), a systemic antibiotic for the treatment of infections caused by Gram-negative bacteria, which has been optioned for development by GlaxoSmithKline under the companies' research and development agreement. In addition, Anacor is developing AN2718 as a topical antifungal product candidate for the treatment of onychomycosis and skin fungal infections, and AN2898 as a topical anti-inflammatory product candidate for the treatment of psoriasis and atopic dermatitis. For more information visit www.anacor.com.
This press release may contain forward-looking statements that relate to future events and involve known and unknown risks, uncertainties and other factors that could cause actual levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. These statements reflect the views of Anacor as of the date of this press release with respect to future events and, except as required by law, it undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release.
Geoffrey M. Parker, Chief Financial Officer, 650-543-7500
Anne Bowdidge, Investor Relations, 650-543-7575
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Health Biotechnology Pharmaceutical