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aTyr Pharma and its Hong Kong Subsidiary, Pangu BioPharma, Announce Government Grant to Fund Bispecific Antibody Development Platform
Grant awarded by the Hong Kong Government's Innovation and Technology Commission under the Partnership Research Program Two-year project will initially focus
About this update from Atyr Pharma, Inc.
[{"type":"text","content":"Grant awarded by the Hong Kong Government's Innovation and Technology Commission under the Partnership Research Program\n Two-year project will initially focus on development of new bi-specific antibodies targeting NRP2 SAN DIEGO, March 24, 2020 (GLOBE NEWSWIRE) -- aTyr Pharma, Inc. (Nasdaq: LIFE), a biotherapeutics company engaged in the discovery and development of innovative medicines based on novel immunological pathways, today announced that the company’s Hong Kong subsidiary, Pangu BioPharma Limited (Pangu), together with the Hong Kong University of Science and Technology (HKUST), has been awarded a grant of approximately $750,000 to build a high-throughput platform for the development of bi-specific antibodies. Initially the research focus will be on diseases, including cancer, in which Neuropilin-2 (NRP2) overexpression is strongly implicated. The two-year project is being funded by the Hong Kong Government’s Innovation and Technology Commission (ITC) under the Partnership Research Program (PRP). The PRP aims to support research and development projects undertaken by companies in collaboration with local universities and public research institutions. The grant will fund approximately 50% of the total estimated project cost, with aTyr contributing the remaining 50%. “Partnering with leading research institutions, such as HKUST, remains a key component of our long-term growth strategy, and we are optimistic that this collaboration, with important financial assistance from ITC, could eventually lead to breakthroughs in the treatment of cancer and other serious diseases where improved treatment options are needed,\" said Sanjay S. Shukla, M.D., M.S., president and chief executive officer of aTyr. “We would like to thank the ITC for this grant to help fund development of a platform that we believe can yield new bi-specific antibody candidates. As we continue to advance our understanding of the role of NRP2 in immunology and cancer, we believe therapeutics selectively targeting NRP2 pathways have the potential to become a new class of therapies. The fact that NRP2 interacts with various co-receptor molecules makes it a prime target for bi-specific antibodies that can target both receptors simultaneously.” Dr. Mingjie Zhang, Chair Professor of the Division of Life Science and Kerry Holdings Professor of Science at HKUST and pro...