Under the Act, $1bn was earmarked for qualifying therapeutic discovery projects that treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions, and/or reduce the long-term growth of healthcare costs in the US.
Derma Sciences has submitted an application for DSC127, its novel pharmaceutical product currently completing Phase 2 trials in diabetic foot ulcer healing.
Derma Sciences chairman and CEO Edward Quilty said that not only does this grant represents a non-dilutive source of financing, but they also are pleased that the US government has recognised the potential for DSC127 to make a significant difference in patient care.
"We look forward to reporting top-line efficacy results of our Phase 2 trial in late December or early January, and to furthering the development of this drug either alone or with a partner," Quilty said.