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news.Phytomedics has got a $244,000 grant under the Qualifying Therapeutic Discovery Project (QTDP) Program to advance the development of its lead product PMI-001 for Rheumatoid Arthritis (RA).
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Phytomedics is a healthcare company developing a novel portfolio of drugs and consumer products solely derived from plant sources.
PMI-001 is a novel, oral, disease-modifying, botanical drug for use in patients with RA and is presently in Phase 2b/3 development.
Three US based, clinical trials, including a recently published and compelling 6 month Phase 2b/3 study, have demonstrated efficacy in the range of the intravenous biologic therapies, as a stand-alone therapy in reducing signs and symptoms of RA at all American College of Rheumatology (ACR) endpoints with rapid onset of action (as early as 2 weeks), and the ability to halt joint erosions and narrowing (at 6 months), with an acceptable side effect profile.
Phytomedics president and CEO Laurie Smaldone said that they are very appreciative of the recognition and support provided by this award which we believe affirms that PMI-001 has the potential to address the significant unmet medical needs in Rheumatoid Arthritis.