Provid Announces National Cancer Institute Contract
News Sep 30, 2005
Provid Pharmaceuticals Inc. has announced the award of a $750,000 phase II SBIR contract by the National Cancer Institute.
The NCI and Provid will collaborate on a number of oncology targets over the next two years.
Provid will apply its hypothesis-driven drug discovery chemistry to translate the assay hits into viable drug candidate leads for applications in cancer therapy.
These projects emerged from the efforts of the Developmental Therapeutics Program Screening Technologies Branch at NCI, where small molecule assay hits have been identified and are ready for medicinal chemistry validation and optimization.
Dr. Gary Olson, Provid CEO, discussed the contract, “We are excited about the expansion of Provid's role with the NCI to help discover drugs for cancer therapeutics, and with the opportunity to collaborate with the scientists who have uncovered the new research targets.”
“The program is a great opportunity for Provid, and we value the confidence that the NCI has placed in us.”