Merakris wins a $2.2M NIH award to take MTX-001 into diabetic foot ulcers

Awarded an NIH Direct-to-Phase II SBIR grant to advance MTX-001 in diabetic foot ulcers.

Direct-to-Phase II SBIR award for clinical development of MTX-001 in diabetic foot ulcers, a second major chronic-wound indication for the RTP company. The $2.2M is the expected two-year award ceiling, not cash received to date. The award comes from the National Institute of Diabetes and Digestive and Kidney Diseases, part of NIH, and is non-dilutive, so it extends the clinical pipeline without touching the cap table. The release says it complements the company's FDA Fast Track designated venous leg ulcer program.