Date: Oct 08, 2014 Source: Charleston Business (
click here to go to the source)
FirstString Research of Charleston has received a $3 million Small Business Innovation Research award to commercialize its therapies for diabetic wounds.
This funding will go toward a multicenter clinical trial to further investigate the therapeutic potential of its Granexin Gel, which aims to treat chronic neuropathic diabetic foot ulcers.
Patients with diabetes have an increased risk of wound complications, and around 20% will develop ulcers that can lead to infection, gangrene and amputations, according to a news release.
"This award will allow us to verify the therapeutic potential of Granexin in the treatment of diabetic foot ulcers and has laid a solid foundation for the design and execution of a pivotal Phase 3 diabetic foot ulcer clinical trial, bringing Granexin closer to market approval," Dr. Gautam Ghatnekar, president and CEO of FirstString Research, said in a statement.
FirstString was founded on technology from the Medical University of South Carolina and focuses on the development and commercialization of therapeutics for scar prevention and tissue regeneration.
The Charleston-based biotechnology company is a portfolio company of SCRA Technology Ventures' SC Launch.
