Privo Technologies, Inc. Awarded $3M NIDCR NIH Commercialization Readiness Pilot Grant
PEABODY, Mass., August 23, 2021 (Newswire.com) - Privo Technologies, Inc. ("Privo"), a biopharmaceutical company focused on optimizing state-of-the-art chemotherapies to be "Tough on cancer, Easy on patients", announced today that the National Institute of Dental and Craniofacial Research (NIDCR) of the National Institutes of Health (NIH) has awarded Privo approximately $3 million over three years in a Commercialization Readiness Pilot (CRP) grant as part of the Small Business Innovation Research (SBIR) Program. The grant was awarded on February 3, 2021, and builds upon previous Phase 1 and Phase 2 SBIR awards from the NIDCR to support the late-stage development of PRV111, Privo's lead asset that allows for locoregional control of chemotherapeutic via topical application.
"We are very grateful to the NIDCR and NIH for their continued support for the late-stage development and commercialization of PRV111," said Manijeh Goldberg, Ph.D., CEO of Privo Technologies, Inc. and Principal Investigator on the grants. "Here at Privo, we seek to transform the standard of care for patients suffering from mucosal cancers that typically require disfiguring and disabling surgeries. By alleviating the safety concerns with traditional chemotherapies, our lead asset facilitates locoregional sequestration of the chemotherapeutic to the tumor site and has demonstrated superior efficacy and safety profiles in comparison to standard chemotherapies. This grant will be instrumental in developing PRV111 from a clinical to a commercial stage asset."
About Privo Technologies, Inc.
Privo Technologies, Inc. (Privo) is a phase 3 clinical-stage biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with disabling and potentially fatal mucosal cancers. Privo is headquartered in Peabody, Massachusetts, north of Boston. Privo's initial focus is on oral cavity cancers for their two lead assets PRV111 and PRV211. PRV111 is a nano-engineered polymeric patch with embedded cisplatin nanoparticles designed to effectively treat more than half of all solid tumors. PRV111 has been shown to be effective in patients with head and neck cancer in several hospitals across the US during a safety and efficacy Phase I/II clinical study, dramatically reducing tumor volume without any systemic toxicity. PRV211 is a sterilized, rapid release polymeric patch intended for intraoperative chemotherapy. PRV211 is applied to the tumor bed following tumor resection to eliminate residual tumor cells and reduce the chance of micro-metastasis and recurrence. For additional information on Privo Technologies, Inc. please visit www.privotechnologies.com.
About National Institute of Dental and Craniofacial Research
The National Institute of Dental and Craniofacial Research (NIDCR) is a component of the National Institutes of Health (NIH) and is the US government's lead agency for scientific research on dental, oral, and craniofacial diseases. NIDCR supports scientists and companies who seek to improve dental, oral, and craniofacial health. NIDCR prioritizes scientific opportunities based on the potential impact to improve health, the readiness of the scientific community to accomplish these opportunities, and their alignment with the Institution's mission.
Source: Privo Technologies, Inc.
