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news.RegeneRx Biopharmaceuticals is planning to partner with the University of Maryland, Baltimore and the State of Maryland, through the Maryland Industrial Partnerships program, to develop a novel product for preventing reperfusion injury associated with cardiac ischemia or heart attack.
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The State of Maryland is contributing $100,000 of the $232,000 per year to the project at University of Maryland, Baltimore (UMB), with an agreement to provide second year funding upon successful completion of the first year's goals. RegeneRx is contributing approximately $54,000 and retains the right to exclusively license all intellectual property developed under the project.
J. Finkelstein, president and CEO of RegeneRx said: “We are very excited about this project. It complements our TB4 cardiovascular efforts and may eventually offer a second, synergistic cardiovascular drug candidate that works at a different point in the treatment of patients following a heart attack. We look forward to the results of the work at the UMB over the coming twenty-four months and are please we can leverage our own research funds with those from the State of Maryland through their Maryland Industrial Partnerships (MIPS) program.”
Martha Connolly, director of MIPS said: “This project serves the MIPS mission, which is to utilize the resources of Maryland's universities to address significant research problems. We are delighted that RegeneRx and UMB are working together to develop a potentially life-saving product.”