The North Carolina Biotechnology Center has approved a $142,716 low-interest loan to help a young Research Triangle Park biotechnology company develop new pharmaceutical products.
The Small Business Research loan was approved for Jenken Biosciences to help the firm conduct specific research and development programs important to its advancement.
Loan Program Information
"Our loans target start-up company inception, research and growth statewide," said John Richert, vice president of the Biotechnology Center's Business and Technology Development Program. "In many cases these young biotechnology companies aren't yet on the radar of angel or venture investors. So this kind of support fills a gap that might otherwise thwart growth of potentially valuable employment opportunities statewide."
The Small Business Research funds may be applied to the direct costs associated with research that advances biotechnology toward commercialization. Biotechnology Center loans carry an interest rate of 1 percentage point over prime.
Application
Jenken is using its loan to conduct preclinical studies of one of its pipeline compounds. The firm develops approved, off-patent drugs for new applications -- a process called "repurposing." The company's initial focus is on the treatment of diseases of the liver, kidney and lungs associated with chronic organ inflammation.
Funding from this award will support studies that will test the ability of Jenken's JKB-121 to limit the exaggerated inflammatory responses associated with non-alcoholic fatty liver disease and steatohepatitis.
These diseases afflict 2 to 5 percent of the U.S. population and are associated with obesity and diabetes. The studies will be conducted in collaboration with Dr. Mark Clemens of the University of North Carolina-Charlotte, and will provide the company with important efficacy data supporting its Investigational New Drug application to the FDA.
About the Biotechnology Center
The Biotechnology Center is a private, non-profit corporation supported by the N.C. General Assembly. Its mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, business and education statewide.
Contact
Jim Shamp, news and publications editor, North Carolina Biotechnology Center, 919-541-9366. Visit the Biotechnology Center's Web site.
At Jenken: Barry Buzogany at 919-765-0032.