US-based biotechnology company developing vaccines and immuno-therapeutics Versatope Therapeutics Incorporated announced on Monday that the National Institute of Allergy and Infectious Diseases, part of the US National Institutes of Health, has provided the company with up to USD3m phase two Small Business Innovation Research (SBIR) grant over a period of three years.

Versatope will use the grant to develop a bi-specific malaria vaccine using a target that blocks both the initial malaria infection and transmission. The novel, dual-acting vaccine may offer a more robust approach than a single acting vaccine.

Versatope was also awarded a Stage I grant from the MassVentures SBIR Targeted Technologies (START) program, placing Versatope in the top 2.25% of companies in Massachusetts receiving both SBIR Phase 2 and START grants. The START grants help Massachusetts-based startups convert research developed under SBIR contracts into businesses and jobs in Massachusetts, and offer guidance to help companies commercialise their technologies.

Christopher Locher, Versatope CEO, said, 'We appreciate the recognition and support of the NIH and MassVentures team to advance the development of Versatope's technology platform and to help take the company to the next stage of development.'