With close to 12 million users and about $5 billion in sales, Lovenox is the world’s leading drug for prevention of blood clots. There is, however, a risk of bleeding for up to four percent of people on Lovenox or other low molecular weight heparins (LMWHs). Radnor-based biotech company Polymedix is hoping to provide help for those at risk by developing PMX-60056 a novel small-molecule drug candidate designed to block the anticoagulant action of heparin and LMWH.
PolyMedix recently got a major boost in that effort thanks to a $923,000 Phase II Small Business Innovation Research (SBIR) grant to extend a clinical trial for its lead compound, which it believes can rapidly reverse LMWHs after surgery, heart attacks or strokes, or emergencies where herapin anticoagulation presents a clinical problem.
PolyMedix was founded in 2002 on proprietary computational drug design technology exclusively licensed from the University of Pennsylvania. The company develops biomimetics–novel small molecule drugs that mimic the activity of proteins. The grant, which was sponsored by the National Institute of Health, will support four scientists.
“I think we’re showing tremendous productivity for a small company, to have two clinical programs underway, with only 15 employees, shows very efficient productivity,” says CEO and co-founder Nicholas Landekic. “They represent significant medical needs and potentially very large marketing opportunities.”
This grant represents the eighth outside supported funding, in the form of a grant or research contract, received by PolyMedix. Landekic says PolyMedix expects to start a proof of concept trial for PMX-60056 this quarter with an anticipated completion by the end of 2009. The company wrapped up its Phase I clinical trial, for which it received a $100,000 grant.
“We’re actively pursuing a number of other grants, particularly antibiotic compounds,” says Landekic. “We hope more will come to fruition this year.”
Source: Nicholas Landekic, PolyMedix
Writer: Joe Petrucci