Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

$NEVPF CHOP Gets $4 M Rare Mitochondria Disease DOD Grant

Summary

Department of Defense grants $4 million dollars to Children's Hospital of Philadelphia, to Principle Investigator Dr. Todd Kilbaugh (Pediatrics, Critical care & Anesthesia) and colleagues.

Mitochondrial genetic diseases will be targeted with proprietary succinate prodrugs from $NEVPF NeuroVive Pharmaceutical's mitochondrial program.

The benefit to patients with rare mitochondrial diseases is the research is intended to enable phase 1 safety studies in humans.

This could lead to treatments for infants, toddlers and young children with life threatening, otherwise untreatable disease.

$NEVPF benefited by substantial (dilution-free) funding to bring its pre-clinical mitochondrial disease drugs all the way to human trials for Orphan indications for Leigh syndrome and MELAS (mitochondrial encephalopathy, lactic acidosis and stroke). See press release:

http://mb.cision.com/Main/6574/2602067/898409.pdf.

NeuroVive is traded on the Swedish OMX Stockholm Nordic Market (ticker NVP.ST) as its primary market with current average volume of over 900,000 shares a day.

NeuroVive Pharmaceutical ($NEVPF) is also traded on the USA OTC Markets OTCQX International, the highest level of transparency on the OTC Markets with ticket symbol NEVPF.

https://www.otcmarkets.com/stock/NEVPF/overview

The succinate prodrugs are just one of several platforms of drugs that NeuroVive has in its resting, development, and out-license portfolio, including NeuroStat(R) cyclosporin for traumatic brain injury (TBI), CicloMulsion(R) cyclosporin for immunosuppression and heart protection, Sangamides with antiviral activity in hepatitis B, hepatitis C, plus effects on liver diseases including fibrosis, cirrhosis, and hepatocellular cancer, and KL-1333, a Korean in-licensed drug for more mitochondrial conditions. 

http://mb.cision.com/Main/6574/2602067/898409.pdf.

Disclosure: I am/we are long NEVPF.

Additional disclosure: Maas Biolab, LLC is a privately held American company that owns less than 5% of the NeuroVive stock. Maas Biolab, and a consortium of America-based investors, had previous Board representation at NeuroVive Pharmaceutical until April 2018. Neither Maas Biolab's Board, nor members of the America-based consortium, are on any Insider lists with NeuroVive, or the Swedish regulatory authorities (Finansinspektionen) and have no confidential NeuroVive information.