Cleveland BioLabs and Panacela Labs have signed a contract with the Ministry of Industry and Trade of the Russian Federation for the development of Xenomycins, a family of anti-infective agents. The contract, valued at approximately $4.6 million, was issued under the Russian Federation's “Pharma 2020” development initiative and provides matching funding for approximately three years to support preclinical and clinical studies.
Xenomycins present a new mode of targeting DNA in pathogenic microbes. Preclinical studies demonstrated efficacy of these compounds against a range of parasites and pathogenic fungi.
Dmitry Tyomkin, MBA, chief executive officer of Panacela Labs, said, “We are very pleased to have secured additional funding for Xenomycins through this highly competitive program. We believe that our success underscores the quality of our science and ability to generate exciting drug candidates. We expect that the contract will enable us to accelerate our preclinical program and evaluate the potential application of Xenomycins against life threatening infectious diseases.”
Panacela Labs, Russia in Development Pact
Published November 27, 2012
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