Biodel
Inc. introduced that the Small Business Innovation Research (SBIR) plan related
to National Institutes of Health (NIH) has honored Biodel a grant regarding the
development of dedicated ultra-rapid-acting insulin formulations in order to
use in an artificial pancreas, also referred to as a closed loop pump system.
"We are actually proud to
obtain this award acknowledging our innovations within the development of novel
therapies as a treatment for diabetes,"
said Dr. Errol De Souza, President and CEO of Biodel.
All
of these finances will be geared toward applying our proprietary technique
regarding the design of ultra-rapid-acting insulin formulations on the subject
of the remedy for insulin resistant affected individuals and to guide in the
whole development of effective artificial pancreas therapy.
The
two-year grant, totaling $582,473, is intended to finance study to formulate our
valuable ultra-rapid-acting insulin product candidate at increased
concentrations suited to incorporate sufficient quantities of insulin inside an
external artificial pancreas pump equipment that has a limited volume capacity.
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