PTC Therapeutics receives $5 million award from the Wellcome Trust
Friday, December 23, 2011
PTC Therapeutics has received a $5 million Seeding Drug Discovery (SDD) award from the Wellcome Trust to support the development of small-molecule drugs that target life-threatening infections caused by multidrug-resistant (MDR) Gram-negative bacteria. PTC previously received a $5.4 million SDD Award from the Wellcome Trust to support its BMI1 oncology program.
“We are honored to expand our relationship with the Wellcome Trust through this second award,” stated Stuart W. Peltz, Ph.D., president and chief executive officer at PTC Therapeutics. “This funding will support our ongoing efforts to develop novel antibiotics to treat infections caused by multidrug-resistant Gram-negative bacteria.”