Company Gets a $3 Million Phase IIB SBIR Grant to Advance GTC-3295 to IND-Enabling Preclinical Studies
LEXINGTON, KY. and NEW YORK, NY. (August 25, 2023) – Gismo Therapeutics Inc. has been awarded a phase IIB SBIR grant to continue development of therapies to treat Alzheimer’s Disease. A $1.19 Million SBIR grant award represents the third year of a $2.969 million grant, entitled “Amyloid-Beta and Tau/Glycosaminoglycan Dual Inhibitor for Alzheimer’s Disease”, awarded by the National Institute on Aging (NIA), National Institutes of Health (NIH).
The funds will allow the company to advance its lead therapeutic candidate GTC-3295, directed against neurodegenerative diseases, into preclinical development. Gismo Therapeutics will leverage its expertise in small-molecule compounds that target glycosaminoglycans (GISMOs). Glycosaminoglycans have been identified as key molecules in the disease process, by promoting the internalization of amyloid peptides into nerve cells and spreading throughout the nervous system, advancing the neurodegeneration and disease process. By intervening with its purpose-designed GISMO compounds, the company aims to mitigate this disease progression.
About Gismo Therapeutics Inc.:
Gismo Therapeutics Inc. is a biotech start-up company targeting fundamental biochemical processes that are at the root cause of amyloid neurodegenerative diseases pathogenesis. The company is developing its pioneering technology, GISMO, which is associated with a new hypothesis of the etiology of major neurodegenerative diseases. Gismo Therapeutics Inc. is developing first-in-class, disease modifying oral therapeutics for the treatment of Alzheimer’s and Parkinson’s Disease. Gismo Therapeutics Inc. was incorporated in Delaware and has offices in Lexington, Kentucky and Queens, New York. The company is privately held and supported by grants from the NIH and the Kentucky Cabinet for Economic Development, and by private funding. The company was founded by Paul Gregor, Ph.D., CEO, a graduate of the Weizmann Institute of Science (Rehovot, Israel). Its Scientific Advisory Board includes Dennis Choi, M.D., Ph.D., an award-winning neurologist, Chair of Department of Neurology and Director of the Neuroscience Institute, Stony Brook University, New York, and Prof. Bruce F. O’Hara, Ph.D., Department of Biology, University of Kentucky, Lexington, KY.
For more information about Gismo Therapeutics Inc., visit the company’s website, www.gismotherapeutics.com.
Contact:
Dr. Paul Gregor
Tel: (347) 233-2037
e-mail: informa@gismotherapeutics.com