Interleukin Genetics, Inc. Awarded Two Federal Government Grants for Osteoarthritis and Obesity Genetics Research
WALTHAM, Mass. Nov. 8, 2010 /PRNewswire/ -- Interleukin Genetics, Inc. (OTCQB: ILIU) today announced that on November 1, 2010 notification was received that it has been awarded two grants totaling $473,393 by the United States Government under the Qualifying Therapeutic Discovery Project (QTDP) Program to advance the Company's genetic research projects related to obesity and osteoarthritis. The QTDP grant program provides support for innovative projects that are determined to have reasonable potential to result in new therapies and reduce health care costs.
"We are pleased to be awarded these two QTDP grants. Our research, academic collaborations and discoveries promise to advance the understanding of and ability to better manage today's most important medical challenges," said Lewis H. Bender, CEO, Interleukin Genetics. "We remain steadfast in our commitment to developing genetic tests for major areas with unmet needs."
The Patient Protection and Affordable Care Act of 2010 made available $1.0 billion in QTDP Program funding to cover certain costs paid or incurred in calendar 2009 and 2010 directly related to the conduct of a qualifying project. The Department of Health and Human Services (HHS) designates such projects based on the potential to produce new cost-saving therapies, support jobs and increase U.S. competitiveness.
About Interleukin Genetics
Interleukin Genetics, Inc. (OTCQB: ILIU) develops and markets a line of genetic tests under the Inherent Health® brand. The products empower individuals to prevent certain chronic conditions and manage their existing health and wellness through genetic-based insights with actionable guidance. Interleukin Genetics leverages its research, intellectual property and genetic panel development expertise in metabolism and inflammation to facilitate the emerging personalized healthcare market. Interleukin Genetics' flagship products include its proprietary PST® genetic risk panel for periodontal disease and tooth loss susceptibility sold through dentists, and the Inherent Health Weight Management Genetic Test that identifies the most effective diet and exercise program for an individual based on genetics. Interleukin Genetics is headquartered in Waltham, MA and operates an on-site, state-of-the-art DNA testing laboratory certified under the Clinical Laboratories Improvements Act (CLIA). For more information please visit www.ilgenetics.com.
Certain statements contained herein are "forward-looking" statements. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the risk of market acceptance of the Company's products, the risk of technology and product obsolescence, delays in product development, the performance of commercial partners, the availability of adequate capital, the actions of competitors and other competitive risks, and those risks and uncertainties described in the Company's annual report on Form 10-K for the year ended December 31, 2009, quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission. The Company disclaims any obligation or intention to update these forward-looking statements.
SOURCE Interleukin Genetics, Inc.
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