Alume Receives Commercialization Readiness Program Grant from the NIH to Support Commercialization of ALM-488 to Highlight Nerves

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Sep 09, 2022, 15:05 ET

Bevonescein (ALM-488), a peptide-dye conjugate designed to fluorescently highlight nerves in real time during surgery, is currently in Phase 3 clinical trials in patients undergoing Head and Neck Surgery

LA JOLLA, Calif., Sept. 9, 2022 /PRNewswire/ -- Alume Biosciences, Inc, a leader in the field of nerve-targeted diagnostics and therapeutics, announced today that it has been awarded a $3.4M Commercialization Readiness Program (CRP) Grant from the Small Business Innovation Research (SBIR) of the National Institute of Neurological Disorders and Stroke (NINDS). This grant will support Alume's commercialization efforts of its novel nerve illumination technology in surgery. The Principal Investigators on this grant are Michael Whitney, PhD, Scientific Co-Founder and Vice President of Discovery and Brett Berman, MD, Co-Founder and Chief Medical Officer at Alume.

Alume Receives Commercialization Readiness Program Grant from the NIH to Support Commercialization of ALM-488 to Highlight Nerves

Alume previously received a Phase I SBIR grant in 2019 and Phase II SBIR grant in 2020 from the NINDS to develop nerve illumination agents for surgical use. The CRP grant is a follow-on 2–year award that will support commercialization of Alume's fluorescent nerve targeting agent, ALM-488 (bevonescein) in patients undergoing Head and Neck Surgery. "Alume's technology to fluorescently highlight nerves during surgery is highly innovative and this CRP grant is a testament to bevonescein's innovation, potential utility and impact as it was awarded following a very rigorous NIH peer-reviewed process," said Dr. Roderic Pettigrew, MD/PhD, CEO of EnHealth and Inaugural Dean of the School of Engineering Medicine, home of ENMED at Texas A&M University in collaboration with Houston Methodist. "Alume's technology was developed as a result of the unmet need to improve intraoperative identification of nerves," said Jean-Pierre Millon, a member of Alume's Board of Directors. "This award is a significant milestone for Alume as we prepare for commercialization," said Millon.

About Roderic Pettigrew, PhD, MD

Dr. Pettigrew is a physician-engineer and was the founding director of the National Institute of Biomedical Imaging and Bioengineering (NIBIB) at the National Institutes of Health. On behalf of NIH, Dr. Pettigrew also served as the liaison to the U.S. Department of Energy and to the National Aeronautics and Space Administration (NASA), and was co-chairman of the Interagency Working Group on Medical Imaging, convened by the White House Office of Science & Technology Policy (OSTP). He stepped down as NIBIB Director in December 2017 to assume the role of CEO of EnHealth at Texas A&M University in Houston and inaugural Dean School of Engineering Medicine where ENMED trains the nation's first Physicianeers. ENMED is in collaboration with the state's top ranked Houston Methodist Hospital that is also on the US News National Honor Roll.

About Jean Pierre Millon

Mr. Millon joined the Alume Biosciences Board of Directors in 2020. He has extensive experience leading healthcare and life sciences companies and has held several global leadership positions including serving as an executive for 23 years at Eli Lilly.

In addition to serving on the Board of Directors of Alume Biosciences, Mr. Millon currently serves on the Board of Directors of CVS Health, Truvian, InanoBio and Valenz Health. He is an Advisor to the Great Point Partners equity fund and also serves as a healthcare consultant, assisting new ventures in the US and Europe. He has been actively involved in non-profit activities, having served as a board member of St Joseph Hospital in Phoenix and the Phoenix Council of Foreign Relations and of the Scottsdale Cultural Council. He was a member of the Kellogg School of Business Advisory Board for 15 years and Vice President of the American Chamber of Commerce in Japan in the 90's.

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This award was granted by the National Institutes of Health. The content of this press release is solely the responsibility of the author and does not necessarily represent the official views of the NIH.

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SOURCE Alume Biosciences