Wednesday, July 18, 2012

Soligenix (OTCBB: SGNX) Awarded $600,000 Small Business Innovation Grant

Soligenix (OTCBB: SGNX) Awarded $600,000 Small Business Innovation GrantPalm Beach, FL 7/18/12 (StreetBeat) – Soligenix Inc (OTCBB:SNGX) has been awarded a Small Business Innovation Research grant from the National Institute of Allergy and Infectious Diseases (NIAID). Soligenix is a development stage biopharmaceutical company, and this 2-year $600,000 grant is given to support the preclinical development of its OrbeShieldTM product as a treatment for gastrointestinal acute radiation syndrome (GIARS).

Acute GIARS develops from exposure to high dose radiation following a serious nuclear event. Currently, there’s no effective therapy approved for the treatment of this life-threatening consequence.

"We are encouraged with the promising survival results observed to date with OrbeShield™ in the beagle model as a post-exposure therapy for the treatment of GI ARS," stated Christopher J. Schaber, PhD, President and CEO of Soligenix. "With renewed support from NIAID, we look forward to working with Dr. Georges to continue development of OrbeShield™ with the aim of addressing this critical unmet medical need."

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