Novelos Therapeutics and the Medical University of South Carolina (MUSC) were awarded a $150,000 phase 1 STTR grant by the NIH. The funding will support further development of NOV-002, the company’s lead candidate, which is in a pivotal Phase III trial for non-small-cell lung cancer.
“NOV-002 is a novel drug capable of modifying redox-based cell processes and represents a valuable tool for linking such processes to clinical endpoints in oncology patients,” explains Kenneth D. Tew, Ph.D., principal investigator on the grant. Dr. Tew also is chairman of the company’s scientific advisory board and chair of the MUSC Department of Cell and Molecular Pharmacology & Experimental Therapeutics.
“The research supported by this initial STTR grant will focus on continued identification of the molecular targets of NOV-002 and the therapy-relevant consequences of their modulation,” Dr. Tew continues.