12 August 2020 - - US-based biotechnology company Chrysalis BioTherapeutics, Inc., which is developing regenerative drugs that target vascular endothelial and progenitor cells,

The National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health, has provided additional funding in the amount of USD 587,995 to its contract with US-based biotechnology company Chrysalis BioTherapeutics, Inc., bringing the total contract award to develop TP508 as a therapeutic for COVID-19 patients to USD 1.5m, the company said.

Chrysalis is developing regenerative drugs that target vascular endothelial and progenitor cells.

The company, located in Galveston, TX. TP508 (rusalatide acetate), is licensed from The University of Texas Medical Branch at Galveston, TX.

Although TP508 has shown potential efficacy in stimulating early tissue repair in human clinical trials, it is not yet FDA-approved and is currently only available for investigational use.

Research reported in this press release was in whole or part supported with federal funds from NIAID under contract number HHSN272201700011C.

The content is solely the responsibility of the authors and Chrysalis BioTherapeutics, Inc. and does not necessarily represent official views of the National Institutes of Health or The University of Texas Medical Branch.