CAMBRIDGE, Mass., Nov. 5, 2010 /PRNewswire/ -- Pervasis Therapeutics, Inc. today announced that it has been awarded over $920,000 in grants through the U.S. government's Qualifying Therapeutic Discovery Project, which provides tax credits and grants to projects that show significant potential to produce new therapies, reduce long-term health care costs, or significantly advance the goal of curing cancer within the next 30 years.
Pervasis is a clinical stage company focused on developing breakthrough therapies with the potential to improve outcomes following common vascular surgical and interventional procedures, such as arteriovenous access, angioplasties, stents and peripheral and coronary bypass grafts—the failure of which result in serious complications and a significant increase in medical costs. There are no currently approved therapies that directly target the underlying physiological processes leading to serious vascular complications, including inflammation, thrombosis (the formation of a blood clot inside a blood vessel) and restenosis (the re-narrowing of a coronary artery after it has been treated with angioplasty or stenting).
Pervasis' therapies harness the power of the endothelium, the thin layer of cells that lines the interior surface of blood vessels, which has a well-understood role in regulating many of the body's healing processes, including vascular repair. Because these endothelial formulations secrete several key factors involved in combating inflammation and restenosis, they may also be applicable to other therapeutic fields where surgical or interventional procedures are required, including inflammatory disease, orthopedic injury and cancer.
The grants awarded to Pervasis span several therapeutic fields for which the company's therapies have application including:Development of PVS-10200 for Peripheral Artery Disease ($244,479.25)
Development of Vascugel® to Sustain Arteriov