The two grants complement the three year, $3 million grant the company was awarded at its inception as well as the commercial research revenues it is currently receiving. The grants were awarded by the National Institutes of health.
The objective of the first award is to further develop potent antibacterial agents that kill a broad array of pathogenic bacteria by inhibiting more than one enzymatic target simultaneously.
The goal of the second award, which is a two year grant, is to discover compounds that inhibit specific cell wall targets and that act in combination with certain existing antibiotics. If the aims of either grant are achieved, the company will qualify for substantially increased funding by applying for phase II funding to further this research.
“We are very pleased that in this highly competitive environment, the Federal Government continues to value the cutting edge, antibiotic drug discovery that the company is undertaking,” said John Finn, President of Rx3 Pharmaceuticals. “These grants support our focus, which is developing novel classes of antibacterial agents. The funding will allow the company to expand its staff and its R&D facilities to further advance its preclinical antibiotic research.”