RESEARCH TRIANGLE PARK, NC – Dignify Therapeutics LLC, a drug development company focused on restoring bladder and bowel control to people with spinal injury, spina bifida, and other neurological conditions, has received a $250,000 Small Business Research Loan (SRL) from the North Carolina Biotechnology Center. The loan supports preclinical development of Dignify’s lead product, DTI-100, in preparation for a Phase I clinical study planned for 2015.
Dignify is developing novel pharmaceutical treatments for bladder and bowel dysfunction which will significantly improve the quality of life for individuals who rely on bladder catheters and bowel programs for voiding. The Company estimates the worldwide market potential for DTI-100 for people with spinal cord injury will be approximately $400 million annually. Dignify Therapeutics is believed to be the only company developing pharmaceuticals to provide rapid, on-demand, drug-induced voiding as a therapeutic strategy.
“We are very appreciative of this award and continued support from NCBiotech,” said Dignify CEO Benny Ward. “Our team continues to make great progress as we move down a clear development path to the DTI-100 Phase I clinical study next year. This loan provides continued positive momentum and credibility to achieving this significant milestone for Dignify.”
NCBiotech also awarded a $50,000 Company Inception Loan to help bootstrap Dignify in 2013.
About Dignify Therapeutics LLC
Founded by a team of serial entrepreneurs who are internationally-recognized scientists and clinicians, Dignify Therapeutics’ mission is to provide safe, effective, practical and convenient, “on-demand” pharmaceutical agents to treat bladder and bowel voiding dysfunctions, using a repositioning strategy of drug discovery that the team has successfully implemented multiple times over the last 20 years in the fields of urology and gastroenterology. Funding has been provided by the Eunice Kennedy Shriver National Institute of Child Health and Human Development. Dignify, a member of the Blackstone Entrepreneur Network, is located at the First Flight Venture Center in Research Triangle Park, North Carolina.
About the North Carolina Biotechnology Center
The North Carolina Biotechnology Center is a private, non-profit corporation supported by the N.C. General Assembly. Its mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, business, education and strategic policy statewide.