CHARLOTTESVILLE, Virginia and ATHENS, Greece, May 5 /CNW/ - Biovista
Inc. announced today that its EU affiliate has been awarded a
prestigious grant worth $0.5 million, for research and development in
the area of personalized medicine. The "p-medicine" project is a
four-year, 13.3 million Euro co-funded effort under the European
Community's 7th Framework Programme that aims to develop new tools,
infrastructure and VPH (Virtual Physiological Human) models in order to
help accelerate the emergence of personalized medicine.
Within this project Biovista will use its Clinical Outcomes Search Space
(COSS) platform and its unique multi-dimensional profiling capabilities
for the purpose of identifying new treatments that reflect patients'
individual pathophysiological characteristics.
Dr. Andreas Persidis, Biovista CEO stated, "We are glad to have been
awarded with our colleagues this prestigious contract through the
highly competitive mechanism of EU R&D projects. It is a testament to
the importance of Biovista's R&D work and past performance of this
international consortium of research, academic and commercial
organizations." "Personalized medicine is currently a challenge for the
industry but also an important emerging requirement for the global
healthcare system. We are confident that our drug repositioning
expertise combined with clinical and related data that will be easily
integrated and interchangeable via the p-medicine infrastructure can
move us in the right direction," he added.
"We are extremely happy to have access to Biovista's drug repositioning
expertise and look forward to experimenting with the COSS drug
repositioning platform," said Professor Dr. Norbert Graf, director of
the Clinic for Pediatric Oncology and Hematology of the University
Clinic of Saarland, Germany and Technical Manager of the p-medicine
project. "Our specific interest at the University Clinic of Saarland is
Wilms tumor, the most common kidney cancer in children. While
significant advances have been achieved in the last few years, we are
still facing challenges in the areas of resistant disease to
conventional chemotherapy where new and intelligent approaches are
needed. Biovista has identified potential biomarkers for this disease
and we are looking forward to continuing this work with them within
p-medicine," he added.
Additional information on p-medicine can be found at the official
project site (http://www.p-medicine.eu/).
About Biovista Inc.
Biovista is a privately held biotechnology company that develops a deep
mechanistic understanding of how drugs, diseases and adverse events
interact and uses this understanding to find customized solutions for
treating disease and to find novel uses for existing drugs. Biovista is
developing its own drug pipeline in multiple indications and is
collaborating with the FDA on the prediction of adverse events, as well
as with biopharmaceutical companies on indication expansion and
de-risking of their portfolios. Additional information about Biovista
can be found at http://www.biovista.com
SOURCE Biovista Inc.
For further information:
Andreas Persidis, Ph.D.
CEO Biovista Inc.
Tiberend Strategic Advisors, Inc