The company said that $30,000 grant has been awarded to Globe Laboratories, the licensor of the technology for this year and can be increased upon completion of preliminary feasibility studies.
National Pharma has signed an agreement with Globe Labs on 3 March 2011, to become an exclusive partner to develop its drugs to the final phase of development.
National Pharma president Elaine Affleck said they are pleased with this Government financial grant for the product which further endorses the need for its rapid development and commercialization.