SAN DIEGO, July 21, 2021 /PRNewswire/ — Paramita Therapeutics, Inc. (Paramita) has been awarded a National Science Foundation Small Business Innovation Research grant for $255,990 to conduct analysis and growth work on a novel dual-function therapeutic/vaccine product, designated as TheraVax. TheraVax not solely can block entry of SARS-CoV-2 but additionally can activate the immune system to supply effector T cells and neutralizing antibodies to remove SARS-CoV-2. This distinctive dual-function therapeutic/vaccine might work at an early stage of an infection to stop hospitalization and in delicate or extreme illness to dam viral unfold whereas activating acceptable immune responses. 

“NSF is proud to support the technology of the future by thinking beyond incremental developments and funding the most creative, impactful ideas across all markets and areas of science and engineering,” mentioned Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF. “With the support of our research funds, any deep technology startup or small business can guide basic science into meaningful solutions that address tremendous needs.”

“The multivalent chemical conjugation platform that we are developing for COVID-19 will work with other viruses and even cancer cells. Therefore, our platform will have revolutionary impact on society as a whole, not only impacting on the current pandemic but also thwarting future pandemics while providing novel therapies for cancer,” mentioned Dr. Sang Van, CEO, Paramita Therapeutics, Inc.

Once a small enterprise is awarded a Phase I SBIR/STTR grant, it turns into eligible to use for a Phase II (as much as $1 million). Small companies with Phase II funding are eligible to obtain as much as $500,000 in extra matching funds with qualifying third-party funding or gross sales.

About Paramita Therapeutics, Inc.: Paramita is an early-stage specialty biotech firm centered on creating new therapeutics for most cancers and infectious ailments. Paramita can rapidly transfer these new therapeutics to the clinic with our revolutionary, patented, easy multi-functional chemical platform developed by Dr. Sang Van. We intend to leverage this know-how to supply novel multivalent drug conjugates based mostly on recognized/authorised molecules with established security and toxicology profiles. This technique permits us to bypass or streamline the extraordinarily costly and time-consuming course of. Paramita is managed by CEO Sang Van, PhD; CSO Jack D. Bui, PhD & MD; and BD Director Sue Zhong, PhD & MBA.

About the National Science Foundation’s Small Business Programs: America’s Seed Fund powered by NSF awards $200 million yearly to startups and small companies, remodeling scientific discovery into services with industrial and societal affect. Startups working throughout nearly all areas of science and know-how can obtain as much as $2 million to help analysis and growth (R&D), serving to de-risk know-how for industrial success. America’s Seed Fund is congressionally mandated via the Small Business Innovation Research (SBIR) program. The NSF is an impartial federal company with a funds of about $8.5 billion that helps basic analysis and schooling throughout all fields of science and engineering.

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SOURCE Paramita Therapeutics, Inc.

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