NexGenix Pharmaceuticals Holdings, Inc a privately-held biotechnology company with a portfolio of novel targeted therapies for oncology and neurodegenerative disorders, based in New York City, announced that it has been awarded a phase-I grant from the National Institute of Health (NIH), National Institute of Neurological Disorders and Stroke (NINDS) for the development of novel small molecule Hsp90 therapeutics to treat glioma. The grant of up to US$ 118,000 was awarded under the Small Business Innovation Research Programme (SBIR) Initiative. The Small Business Innovation research (SBIR) programme is a set-aside programme for domestic small business concerns to engage in Research/Research and Development (R&D) that has the potential for commercialization.

"The award by the NINDS’s SBIR programme provides important recognition for NexGenix’s Hsp90 inhibitor program for the treatment of Glioblastoma, a deadly disease, and further validates the quality of our drug development capabilities," said Dr Allan Rubenstein, chief executive officer of NexGenix. "Through continued development of our Hsp90 programme, we remain committed to finding novel treatments for brain tumours, other cancers, and neurodegenerative diseases."

NexGenix Pharmaceuticals Holdings also announced that director of Pre-Clinical Research and Development Dr Ruihong Chen will be available for Q&A during a poster session showing the results from a pilot study demonstrating increased survival of GL261 Glioma Bearing Mice at the upcoming 2009 Joint Meeting of the Society for Neuro-Oncology (SNO) and the AANS/CNS Section on Tumours in New Orleans, Louisiana. Dr Chen’s presentation will take place on Friday, October 23rd, 2009 at 5:30 pm at the Hilton New Orleans Riverside

NexGenix Pharma is a privately-held biotechnology company based in New York City. The company’s portfolio consists of a series of Hsp90 inhibitors, a novel target for oncology and neurodegenerative disorders, which has attracted an enormous amount of development interest in the past several years.