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ap

BioDelivery Sciences gets $1.3M research grant

BioDelivery says it received $1.3M in funding for antifungal and parasitic drug candidate

  • On 3:46 pm EDT, Tuesday October 6, 2009

RALEIGH, N.C. (AP) -- BioDelivery Sciences International Inc. said Tuesday it received a $1.3 million grant for research into an oral drug intended to treat parasitic and fungal diseases.

BioDelivery Sciences said it received the grant from Walter Reed Army Institute of Research. The funds will be used to continue development of Bioral Amphotericin B as a treatment for fungal infections such as esophageal candidiasis, and cutaneous leishmaniasis, a parasitic illness spread by insects.

The company completed an early stage clinical trial this year. It said its Bioral technology encapsulates drugs without chemically bonding to them, and may make it possible to convert some intravenous drugs to oral medications.

In afternoon trading, BioDelivery Sciences stock fell 4 cents to $4.88.

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