NeurOp Awarded $3 Million NIH Grant for Ischemia Treatment Research

ATLANTA--(BUSINESS WIRE)-- NeurOp, Inc., a biopharmaceutical company developing new treatments for central nervous system disorders, today announced that the National Institutes of Health (NIH) has awarded the company a $3 million grant to support its research program for ischemia. NeurOp will use the funding to advance its lead molecule to an Investigational New Drug (IND) filing for the treatment of subarachnoid hemorrhage (SAH) and those patients at risk of a stroke.

The grant is a four-year award that provides $299,541 in funding this year. Terms of the grant require that a set of milestones and budget be met, as agreed with the NIH.

“This grant, coupled with support from the Georgia Research Alliance, will accelerate our work to identify within the year a drug candidate for ischemia to advance into pre-IND studies. This represents the third funded research program for NeurOp,” said Barney Koszalka, Ph.D., NeurOp president and chief executive officer. “While this is great news for the company, I’m also excited about the potential of the research for patients. Our compounds target only the areas of the brain affected by an ischemic event, so they may preserve brain function and retain more motor, speech, and cognitive function in the event of a stroke, as well as speed recovery.”

NeurOp will initially study its compounds as prophylactic treatment for SAH patients, which comprise up to seven percent of all stroke victims. Since about half of SAH patients suffer a stroke-like event within 14 days after surgery to repair the cerebral aneurysm, drug administration would immediately begin after surgery and be maintained through this critical period to improve survival and outcome should a stroke occur. If a compound proves safe and effective in SAH, NeurOp believes this approach can be expanded into other patients at risk of ischemic brain injury and in the treatment of traumatic brain injury, providing a much needed new therapy to address these serious and costly areas of medical need.

This project is supported by Award Number U44NS071657 from the National Institute of Neurological Disorders and Stroke (NINDS). Information provided here is the responsibility of NeurOp and does not necessarily represent the official views of the NINDS or NIH.

About NeurOp

NeurOp, Inc. is an Atlanta-based biopharmaceutical company developing new medicines for central nervous system disorders, including depression, neuropathic pain, ischemia (stroke), schizophrenia, and Parkinson’s disease. Its compounds target the NMDA receptor found on neurons in a manner designed to enhance therapeutic benefit without the negative side effects associated with previous generations of this and other drug classes. A research collaboration and licensing agreement with Bristol-Myers Squibb Company (NYSE: BMY) currently funds and supports development of NeurOp’s compounds for the treatment of depression and neuropathic pain. In 2010, NeurOp collected awards for Start-Up Company of the Year from Emory University’s Office of Technology Transfer and Deal of the Year for a Strategic Partnership from Georgia Bio. For more information, visit www.neuropinc.com.



CONTACT:

NeurOp
Barney Koszalka, 404-941-2350
CEO

KEYWORDS:   United States  North America  Georgia

INDUSTRY KEYWORDS:   Health  Biotechnology  Pharmaceutical

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