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news.Eyetech has received a grant of $245,000, under the US Government's Qualifying Therapeutic Discovery Project (QTDP) program, to support the development of an extended-release formulation of Macugen (pegaptanib sodium injection) using microparticles technology.
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Macugen, a selective inhibitor of VEGF-165, is approved for the treatment of neovascular age-related macular degeneration (neovascular AMD), which is expected to decrease the frequency of dosing from every six weeks to every four to six months.
Macugen is a pegylated anti-VEGF aptamer, which binds to vascular endothelial growth factor.
Eyetech is collaborating with SurModics Pharmaceuticals, a drug delivery company, to develop the extended-release version of Macugen under a licensing and development agreement that was signed in 2005.
Eyetech president Steven Bettis said that the company was pleased to receive the QTDP grant recognising the potential of their drug development program.
"These non-dilutive funds will contribute to our efforts to develop an extended-release formulation of Macugen," Bettis said.