COSTELLO ANNOUNCES SMALL BUSINESS INNOVATION RESEARCH GRANT FOR MALVERN COMPANY
West Chester, PA – Rep. Ryan Costello (PA-06) announced VenatoRx Pharmaceuticals, a company located in Malvern in Pennsylvania’s Sixth Congressional District, received a federal grant from the National Institutes of Health (NIH) last week.
The grant, a Small Business Innovation Research (SBIR) grant, is titled the Discovery of inhibitors of Zika virus and totals $299,999 for the first year.
“It is great to see such an innovative employer in our region working to develop cutting edge solutions that can positively influence the health of individuals across the world,” said Rep. Costello. “This is a great example of why NIH funding, and research and development are so critical to protecting and improving public health and why supporting NIH funding increases has been a priority of mine."
“Novel inhibitors of Zika virus are urgently needed to prevent the occurrence of virus-induced microcephaly and Guillain-Barré syndrome,” stated Dr. Christopher Burns, President and Chief Scientific Officer of VenatoRx. “Led by Dr. Glen Coburn, the Principal Investigator on the grant, we are excited to leverage our scientific expertise in the discovery of anti-infective medicines against this emerging threat.”
VenatoRx currently employees 40 people and has research and development (R&D) programs directed against drug-resistant bacteria and against emerging viruses.