rtheti logoBRANFORD: Thetis Pharmaceuticals announced the receipt of a Fast-Track Small Business Innovation Research (SBIR) Grant from the National Institutes of Health (NIH) worth up to $1.9 million.

The award is to support development of Thetis’ TP-252 drug candidate an oral therapy for ulcerative colitis, a chronic, relapsing inflammatory gastrointestinal disorder which according to the company affects 800,000 patients in the U.S. and nearly 5 million worldwide.

During the last 9 months, Thetis has received two Fast Track SBIR awards providing more than $4 million to fund development of its IBD pipeline. This past November the NIH issued an SBIR award provides up to $2.3 million to support development of Thetis’ TP-317 candidate as oral therapy for treatment of ulcerative colitis.

Gary Mathias, co-founder and Chief Executive Officer, said: “TP-252 is a novel patented molecule that delivers a natural lipid that has been shown in an independent Phase 2 study to reduce relapse rates and inflammatory biomarkers in ulcerative colitis patients. Based on this compelling clinical proof-of-concept data and the anticipated benign safety profile of our molecule, we are in discussions with potential partners to begin clinical investigation in 2019.”