PTC Receives $2.6M Government Grants

New Jersey based PTC has announced the receipt of two government grants to support clinical development programs in rare disorders.

The US Department of Defense Neurofibromatosis Research Program has awarded an $822345 grant to support a new open-label phase 2 clinical trial of PTC’s PTC299 in neurofibromatosis type 2 (NF2), a rare genetic tumor.

Meanwhile, the FDA Office of Orphan Products Development has awarded PTC a four year, $1.6 million grant towards its ongoing pivotal trial of ataluren (PTC124) in nonsense mutation Duchenne and Becker muscular dystrophy (nmDMD/BMD).

The grant awarded by the FDA Office of Orphan Products Development provides additional funding towards an ongoing pivotal, placebo-controlled study that is designed to determine whether ataluren can improve walking, muscle function and strength in patients with nmDMD/BMD, said the company.

Stuart W. Peltz, President and CEO of PTC, said: We are honored to receive these grant awards from the FDA and from the Department of Defense. Obtaining peer-reviewed grant awards are a strong endorsement of PTC’s science and support our strong commitment to developing innovative medicines in areas of high unmet medical need.