Paramita receives National Science Foundation grant to develop TheraVax

Paramita Therapeutics, an early-stage biotech startup, has received a $255,990 Small Business Innovation Research grant from the National Science Foundation (NSF) to undertake research and development of TheraVaxTM, its unique dual-function therapeutic/vaccine product.

TheraVax is formulated to prevent SARS-CoV-2 as well as to stimulate the immune system to develop effector T cells and counterbalancing antibodies, allowing SARS-CoV-2 to be eradicated. This novel dual-function therapeutic/vaccine could reduce hospitalization in the early stages of infection and limit viral transmission in mild or severe disease while generating adequate immune responses.

As per sources, a small business can apply for a Phase II (up to $1 million) grant after receiving a Phase I SBIR/STTR grant. Small enterprises with Phase II funding can obtain around $500,000 in additional matching funds with eligible third-party investment or sales.

Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF, commented NSF is delighted to serve the technology of the future by thinking further than incremental developments and funding the most impactful, creative ideas across all markets and areas of science and engineering.

With the help of the research funds and technology company or small firms can guide basic science into practical solutions that solve enormous needs.

Dr. Sang Van, CEO of Paramita Therapeutics, said that their company is building a multivalent chemical conjugation platform for COVID-19 that will work with different viruses and even cancer cells. As a result, this platform will have a transformative impact on society, not just addressing the ongoing epidemic but also preventing future pandemics while offering breakthrough cancer medicines.

Paramita is a specialized biotech business developing innovative cancer and infectious disease medicines. Paramita may quickly bring these new therapies to the market with Dr. Van's revolutionary, simple, multi-functional, patented chemical platform. Paramita is managed by Sang Van (CEO), Sue Zhong (BD Director), and Jack D. Bui (CSO).

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