BioAxone BioSciences awarded NINDS SBIR funding to develop BA-434
BioAxone BioSciences announced that, as part of a collaborative effort with RXi Pharmaceuticals, it is the recipient of a grant award from the National Institute of Neurological Disorders and Stroke, part of the agency's SBIR Phase II funding program. This two-year grant provides funding for further development of BioAxone's preclinical candidate BA-434, a novel sd-rxRNA compound that targets PTEN for the treatment of spinal cord injury. BioAxone has been awarded a total of $1,794,895 to fund the collaborative project over 24 months. During the first year, BioAxone will receive $735,822 with the remaining balance awarded in the second year after achieving certain milestones. For their contribution, RXi will receive approximately $129,000 in the first year with the potential to receive an additional $118,800 in the second year after achieving certain milestones. Under this grant, entitled "Development of self-delivering RNAi targeted to PTEN for treatment of spinal cord injury," BA-434 will be further developed to silence PTEN, a protein known to be an intrinsic barrier to regeneration, thereby supporting regeneration in the adult central nervous system.