TechJournal South Header

Navy adds to Diffusion Pharmaceuticals funding

February 6th, 2007

CHARLOTTESVILLE, VA—Diffusion Pharmaceuticals LLC, a drug discovery and development company, has received a $500,000 grant from the Office of Naval Research, increasing its total Navy funding to $2.6 million.

The company plans to take its lead product, which may have uses in treating life-threatening conditions such as heart disease, breathing disorders and stroke, into human testing in March.

Diffusion has also raised $5.6 million in private equity and is seeking additional backing to support the clinical development of its product.

Diffusion’s small molecule therapies enhance the diffusion of oxygen to tissues needing it. Its lead product, trans sodium crocetinate (TSC) and others in development may help treat a number of disorders characterized by oxygen deprivation at the cellular level, such as trauma, stroke, and heart disease.

For more information see: www.diffusionpharma.com.

Related Stories:

© 2007, TechJournal. All rights reserved.

Comments are closed.