Politics & Government

New London Business Receives Small Business Innovation Research Grant

Rep. Joe Courtney announces that almost $300,000 will go to LifePharms

A drug discovery company located on Shaw Street will receive a $299,998 Small Business Innovation Research Grant, Rep. Joe Courtney has announced.

LifePharms Inc. received the grant through the U.S. Department of Health and Human Services and will use the money to research and develop compounds to fight drug-resistant fungi. According to the company's website, LifePharms aims to "provide a new, untapped source of fungal extracts for drug discovery, agrochemical, enzyme, and food science research."

“When I visited LifePharms late last year, I was impressed by their seven-person operation,” Courtney said in a statement. “As a strong supporter of SBIR grants, I have no doubt the grant they secured will make a big difference in their ongoing research, and will keep eastern Connecticut on the cutting edge of innovation.”

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"We are very excited to receive this highly competitive federal grant,” said E. Edward Mena, chief executive officer of LifePharms, in a statement. “We are looking forward to using these monies to develop several compounds that have shown high potency and activity against drug-resistant strains of fungi.  Since the population of HIV and immune-compromised patients is growing, the need for novel antifungals, particularly against drug resistant fungi, is urgent.”

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