On October 10, 2017 Quadriga Biosciences, a privately held, pharmaceutical company focused on developing novel, proprietary amino acid mimics for the treatment of cancer, reported that the Company has been awarded a Phase II Small Business Innovation Research Grant (SBIR) of $2 million from the National Institutes of Health (NIH) to support the development of its compounds for the treatment of glioblastoma multiforme (GBM), an extremely deadly form of brain cancer for which no long term effective treatment options are available (Press release, Quadriga BioSciences, OCT 10, 2017, View Source [SID1234527723]).

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"We appreciate the NIH’s continued recognition of our science and the importance of the development of our lead molecules for the treatment of GBM," said Dr. Gordon Ringold, Chief Executive Office of Quadriga Biosciences. "GBM is the most malignant form of brain cancer and new therapeutic approaches will be required to significantly impact the progression of this disease. Given the high unmet medical need, we are excited about the opportunity to advance our lead compound through preclinical development over the ensuing months and be in a position to initiate clinical trials by late next year."