CEO Alan Schneyer and COO Elissa Brown were busy today working the Innovation Zone at BIO 2019 in Philadelphia, meeting with potential partners and working to raise investment for future development of their technologies.
Fairbanks was able to display in the Innovation Zone because the company was awarded an SBIR grant in 2018. As BIO describes it, the Zone enables “Small Business Innovation Research (SBIR) funded early-stage biotech companies to showcase their cutting-edge technologies, form long-term partnerships, and begin to raise funds in the private sector.”
Fairbanks Pharmaceuticals, Inc. has been awarded a Phase II Small Business Innovation Research (SBIR) grant for $1.83M from the National Institutes of Health.The Phase II SBIR is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization.
Fairbanks was awarded the SBIR grant for its proposal “Development Of Novel Diabetes Therapies Based On Neutralizing FSTL3 Activity” following up from the demonstration of feasibility duringits Phase I SBIR grant awarded in 2016. The Phase II award started in June 2018 and will run for two years.During this time Fairbanks will test its lead antibody in vitro and in two mouse models of diabetes for efficacy in treating diabetes.Another arm of the study will analyze whether this antibody treatment induces regeneration of beta cells through transdifferentiation from alpha cells.
It is anticipated that Fairbanks will be in a position to begin human testing around 2020.With preliminary results obtained as a result of pursuing SBIR funding, Fairbanks is currently in discussion with potential partners to help develop this therapy for human use.