BOZEMAN, Mont., June 25 /PRNewswire/ -- LigoCyte Pharmaceuticals, Inc. announced today that they have been awarded funding from the Department of Defense to continue their development of drugs to combat norovirus infections. The $2.18 million award supports the next stage of clinical development and recognizes the continued success of LigoCyte’s collaborative program with Dr. Michele Hardy, Associate Professor of Molecular Biology and Virology at Montana State University.
“Dr. Hardy is a world leader in norovirus research and her efforts have been key to our success. The combination of our collaboration at MSU with the recently announced relationship with Baylor College of Medicine strengthens LigoCyte’s leadership position in norovirus therapeutics and vaccines. This new funding will greatly accelerate our product development.” said Dr. Charles Richardson, LigoCyte’s Senior VP of Research and Development.
LigoCyte worked closely with Senator Conrad Burns (R-MT) to secure the funding from the Department of Defense. “LigoCyte’s vaccine and therapeutic programs compliment this country’s biosecurity efforts and also address critical unmet medical needs,” said Michael McCue, LigoCyte’s Chairman and CEO. To date, LigoCyte has received over $12.2 million in contracts from the Department of Defense.
About noroviruses
Noroviruses are the most common cause of infectious acute gastroenteritis (AGE) in the United States and a major cause of gastroenteritis worldwide. The impact of AGE is seen in the high incidence of hospitalization and a growing socioeconomic cost to businesses dealing with epidemic outbreaks. With the advent of sensitive diagnostics, noroviruses are now attributed to more than two thirds of all infectious AGE in the United States, and more than 96% of viral AGE in nursing homes. More commonly referred to as the “stomach flu,” “food poisoning,” and the highly publicized “cruise ship disease,” noroviruses account for approximately 23 million cases of gastroenteritis each year in the US alone, placing them second only to the common cold as the most prevalent infectious agent in the United States.
About LigoCyte
LigoCyte, established in 1998, has committed its expertise in immunology to the discovery and development of therapeutic drugs and vaccines for the prevention of inflammatory and infectious diseases. The company’s immunomodulatory drug discovery activities support its pipeline of therapeutic candidates. LigoCyte’s world-class scientists and leading-edge technologies are focused on the clinical development of lead candidates to establish strategic relationships within the pharmaceutical industry, including a collaboration for an anti-inflammatory antibody with Abbott Laboratories. The company’s ProteoFlow(R) high content assay technology streamlines the drug development process by testing inhibitors in a fully human, physiologic flow environment. For additional information on LigoCyte, please visit our website at http://www.ligocyte.com/.
Safe Harbor
Except for historical information, the matters discussed in this news release contain forward-looking statements regarding future events that involve risks and uncertainties, which could cause actual results to differ materially from the statements made. These risks and uncertainties include, among other things, the levels and timing of payments under LigoCyte’s collaborative agreements, uncertainties relating to LigoCyte’s ability to successfully discover, develop, test, and secure regulatory approval of and finance any of its current or future drug candidates, uncertainties about LigoCyte’s ability to obtain new corporate collaborations on satisfactory terms, and the risk that LigoCyte or its partners will not be able to successfully commercialize the products developed from LigoCyte’s research and development.
Binding Science. Better Medicine.
LigoCyte Pharmaceuticals, Inc.
CONTACT: Karen Sipes, Ph.D., Director of Marketing and Communications ofLigoCyte Pharmaceuticals, Inc., +1-406-585-2733, karen.sipes@ligocyte.com
Web site: http://www.ligocyte.com/
