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