Allon Therapeutics has received a major grant from the Michael J Fox Foundation for Parkinson's Research to carry out pre-clinical research on davunetide.
The neuroprotective drug will be assessed for its effects on a key pathology in Parkinson's disease, alpha-synuclein, as part of a $625,000 (£403,000) research project that will use mouse models.
Davunetide has already been found to have a positive effect in both in vitro and in vivo models of Parkinson's disease and the researchers hope to build a bridge to a clinical trial.
"Our foundation is dedicated to supporting groups like Allon who have promising PD therapies in development with a clear path forward toward practical relevance in patients' lives," commented Todd Sherer, chief programme officer for the Michael J Fox Foundation.
Professor Illana Gozes, Allon's founding scientist, was this month awarded the Olson Prize by the journal Peptides for her research work into the behavioural effects of peptides.
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