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news.VistaGen Therapeutics has been awarded $1.2 million in funding from the National Institutes of Health, to support final preparation and filing of its AV-101 investigational new drug application with the FDA in early 2008. The company expects to develop the drug for the treatment of neuropathic pain, Parkinson's disease and epilepsy.
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The award is the final phase of an aggregate of $4.3 million of grant support from the National Institute of Neurological Disorders and Stroke (NINDS), a division of the National Institutes of Health (NIH), for preclinical development of AV-101.
Ralph Snodgrass, president and CEO of VistaGen, said: “Success in securing and maintaining NINDS grant support for AV-101 signals that the NIH is impressed by the progress and quality of our development program, and encouraged by the therapeutic potential of AV-101. Throughout our preclinical development of AV-101, we have consistently met all NIH milestones and this latest phase of NIH funding means that we can now move rapidly towards AV-101 clinical trials.”