Parion Sciences Announces $15.6 Million in Grant Support for Pulmonary Research Program

NIH Awards Two Grants to Academic Partners to Progress Mucolytic Research Program

Durham, NC (October 15, 2014) – Parion Sciences, a company dedicated to the development of novel treatments for pulmonary and ocular diseases, announced today that the National Institutes of Health (NIH) has awarded up to $15.6 million over 5 years in grants to The University of North Carolina, Chapel Hill (UNC-CH) and The University of Colorado, Denver (UCD) to conduct research with mucolytic agents discovered by Parion Sciences and to enable Investigational New Drug (IND) applications for Parion’s molecules.

The first year of funding awarded for the Centers for Advanced Diagnostics and Experimental Therapeutics in Lung Disease (CADET) grant awards include $1.46 million ($7.7 million total) to UNC-CH to conduct pre-clinical research on Parion’s mucolytic program in the areas of Chronic Obstructive Pulmonary Disease (COPD) and Cystic Fibrosis (CF). The second CADET grant was awarded to UCD for $1.52 million in the first year ($7.9 million total) in support of pre-clinical research on Parion’s mucolytic program in Idiopathic Pulmonary Fibrosis (IPF). The two grants will be utilized over a total of 5 years with a renewal after the first 2 years and annual reviews.