RESEARCH TRIANGLE PARK, NC (RTP) – November 4, 2014 – 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 $50,000 grant from the North Carolina Office of Science, Technology & Innovation’s One North Carolina Small Business Program. The grant matches a Phase 1 Small Business Innovation Research (SBIR) grant, received in August, in the amount of $159,000 from the Eunice Kennedy Shriver National Institute of Child Health and Human Development of the National Institutes of Health (NIH).
Dignify is developing novel pharmaceutical treatments for bladder and bowel dysfunction which will significantly improve the quality-of-life for individuals that rely on bladder catheters and bowel programs for voiding. The Company estimates the worldwide market potential for its lead product, 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 a rapid, on-demand, drug-induced voiding as a therapeutic strategy.
The Company will be presenting at two in events in Atlanta on November 10-13. Dignify has been chosen as one of 23 of the most promising bioscience companies to participate in the 2014 Southeast BIO Investor and Partnering Forum. Benny Ward, CEO, will be presenting the Company to early stage investors, advisors and entrepreneurs. In addition, Karl Thor, President and CSO, will be presenting, on November 10, to clinicians at Shepherd Center, one of the top rehabilitation hospitals in the nation. Dr. Thor will be sharing the patient benefits and clinical development of Dignify’s novel treatment for bladder and bowel dysfunction.
“We are very appreciative of the funding support from the state of North Carolina. Emerging companies such as Dignify rely on many sources of funding for growth and to bring novel therapies to patients. We are also looking forward to sharing the Dignify opportunity and our progress to date at SEBIO and Shepherd Center,” said Benny Ward, Chief Executive Officer.
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 and 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 for the Company has been provided by the North Carolina Biotechnology Center, an entity primarily funded by the State of North Carolina. Dignify is also a member of the Blackstone Entrepreneur Network and is located at the First Flight Venture Center in Research Triangle Park, North Carolina.