Birmingham, AL – Soluble Therapeutics, Inc. a Birmingham, Alabama-based CRO specializing in formulation optimization for protein-based therapeutics announces a Phase II award of approximately $1MM from the NIH Small Business Technology Transfer Program (STTR).
After closing a $1MM round of venture funding in the Summer of 2011, this new infusion of capital will allow Soluble Therapeutics to accelerate the development and commercialization of the HSCTM Technology for protein formulation – a technology that is able to identify optimized formulations for protein-based therapeutics in 45 days while using minimal quantities of protein. This technology has the power to greatly reduce the time and resources required to prepare protein-based drugs for clinical development.
Dr. Larry DeLucas, Director of the UAB Center for Biophysical Sciences and Engineering is the principal investigator on the project and is one of the founding scientists of Soluble Therapeutics. Dr. Delucas states that he is “extremely pleased with the direction the company has taken with this technology and this Phase II award is proof of its commercial viability and immediate success in a challenging formulation market.”
“This grant is another testament to the excellent work in biotechnology that is coming out of Soluble Therapeutics, UAB, and being fostered at Innovation Depot,” said Steven Ceulemans, Vice President of Innovation and Technology at the Birmingham Business Alliance, the Birmingham region’s leading economic development agency. “It demonstrates the value of the HSCTM Technology and the strength of the Birmingham region’s innovation infrastructure.”
Soluble Therapeutics’ CEO, Dr. Joseph Garner states that “our formulation service, utilizing the HSCTM Technology, continues to perform well in commercial engagements and this funding from the NIH further validates our technology as a new standard in protein formulation. We look forward to completing the development of the 3rd generation of the HSCTM Instrument that will be made available for purchase to the biopharmaceutical industry.”
Contact: John McCarter, Director, Business Development
(205) 314-3577, firstname.lastname@example.org