LOWELL, Mass., July 29, 2024 /PRNewswire/ -- Versatope Therapeutics Incorporated, a biotechnology company developing vaccines and immuno-therapeutics announced today it has received a Phase 2 Small Business Innovation Research (SBIR) grant from the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health for up to $3 million over three years. Versatope will use the grant to develop a bi-specific malaria vaccine using a target that blocks both the initial malaria infection and transmission. The novel, dual-acting vaccine may offer a more robust approach than a single acting vaccine.
The World Health Organization estimates that there are 249 million malaria cases and 608 000 malaria deaths in 85 countries each year. Most cases of malaria occur in sub-Saharan Africa and in parts the South Pacific, Central and South America and in Southeast Asia. Climate change combined with drug resistant malaria and insecticide resistant mosquitoes have made malaria control more difficult in recent years.
Versatope was also awarded a Stage I grant from the MassVentures SBIR Targeted Technologies (START) program, placing Versatope in the top 2.25% of companies in Massachusetts receiving both SBIR Phase 2 and START grants. The START grants help Massachusetts-based startups convert research developed under SBIR contracts into businesses and jobs in Massachusetts, and offers guidance to help companies commercialize their technologies.
“We appreciate the recognition and support of the NIH and MassVentures team to advance the development of Versatope’s technology platform and to help take the company to the next stage of development.” said Christopher Locher, CEO of Versatope. “
The work being done by Versatope will be critically impactful for human health. Along with grants from NIH, the START grants will help deliver this reality” said Charles Hipwood, CEO of MassVentures.
“We congratulate the entire Versatope team on receiving this Phase 2 SBIR award. It is testament to the groundbreaking biologics work that Versatope is doing and UMass Lowell M2D2 is proud to have them as a resident company,” said Mary Ann Picard, Executive Director for Innovation at the University of Massachusetts Lowell.
About Versatope Therapeutics
Versatope Therapeutics, Inc., is a preclinical-stage biotechnology company located in Lowell, MA at the University of Massachusetts’ M2D2 biotech incubator. They are also developing a pan-influenza vaccine that is room temperature stable for months and may provide a lifetime of immunity with a single immunization. The malaria vaccine development work is supported by the National Institutes of Allergy and Infectious Diseases (NIAID) grant #R44AI181242.
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SOURCE Versatope Therapeutics, Incorporated
