Bolder BioTechnology Announces $1.2 Million in Qualifying Therapeutic Discovery Project Grants

BOULDER, Colo., Nov. 3, 2010 /PRNewswire/ -- Bolder BioTechnology, Inc. today announced that it has been awarded a total of $1.2 million in Qualifying Therapeutic Discovery Project Grants.  Grants were awarded for qualified investments under the Qualifying Therapeutic Discovery Project Tax Credit Program, which authorized up to $1 billion in tax credits or grants to biopharmaceutical companies with 250 or fewer employees.  

The Qualifying Therapeutic Discovery Project Tax Credit Program was a competitive grant process intended to reinvigorate the life sciences industry. The awards cover up to 50 percent of qualifying expenses incurred in 2009 and incurred or expected to be incurred in 2010 in developing therapies to prevent, treat or diagnose a variety of diseases and conditions. In some cases, applicants were selected to receive awards for multiple projects.

Bolder Biotechnology received 5 grants totaling $1,192,145: BBT-021 – erythropoiesis stimulating protein for chronic kidney disease, BBT-031 - long acting growth hormone analog for short stature and lipodystrophy, BBT-032 – long acting beta interferon analog for treating multiple sclerosis and cancer, BBT-007 - long acting GM-CSF analog for treating acute radiation syndrome and cancer-related neutropenia, and BBT-015 - long acting G-CSF analog for treating acute radiation syndrome and cancer.

Bolder BioTechnology, Inc. uses advanced protein engineering technologies to create proprietary human protein pharmaceuticals with enhanced therapeutic properties for the treatment of hematopoietic and endocrine disorders, cancer and infectious diseases.  

Statements contained herein that are not historical facts are forward-looking statements that are subject to a variety of risks and uncertainties.  There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the company.  These factors include, but are not limited to: (1) the company's ability to successfully complete product research and development, including pre-clinical and clinical studies, and commercialization; (2) the company's ability to obtain required government approvals; (3) the company's ability to attract and/or maintain manufacturing, sales, distribution and marketing partners; and (4) the company's ability to develop and commercialize its products before its competitors.

SOURCE Bolder BioTechnology, Inc.