Novo Biosciences Receives Federal Grant to Advance Potential Heart Drug

According to EurekaAlert, Novo Biosciences Inc., a spinoff of the MDI Biological Laboratory in Bar Harbor, Maine, has announced that it has received a two-year, $1.5 million Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH) for the development of MSI-1436 as a potential regenerative medicine therapy for the treatment of patients who have suffered an acute heart attack. “We believe MSI-1436 has enormous potential,” said Kevin Strange, Ph.D., CEO of Novo Biosciences and president of the MDI Biological Laboratory. “No drug now exists to treat heart attack. Heart disease is the the world’s leading killer. In order to advance MSI-1436 into clinical trials, we need to first test its effectiveness in a large animal model. We are deeply grateful to the National Heart, Lung, and Blood Institute for making this possible.” Read more