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Clene Nanomedicine’s Facility Improvement Project Receives $1 Million Grant Award from the Maryland Department of Housing and Community Development (DHCD)
Clene Nanomedicine’s Maryland facility is among the projects and activities awarded fundingThe manufacturing expansion is in preparation for anticipated
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[{"type":"text","content":"Clene Nanomedicine’s Maryland facility is among the projects and activities awarded fundingThe manufacturing expansion is in preparation for anticipated commercialization SALT LAKE CITY, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Clene Inc. (NASDAQ: CLNN) along with its subsidiaries “Clene” and its wholly owned subsidiary Clene Nanomedicine, Inc., a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative disease, announced a $1 million grant award from the Maryland Department of Housing and Community Development (DHCD) to further support the redevelopment of the Clene manufacturing facility in Elkton, MD. The legacy site is being redeveloped for pharmaceutical product development to increase Clene’s manufacturing capacity and support anticipated product commercialization for amyotrophic lateral sclerosis (ALS) with Clene’s lead asset, CNM-Au8. “Clene is committed to supporting the infrastructure growth of the Maryland community, and we are grateful for this recognition by the State of Maryland and the assistance of the Town of Elkton,” said Mark Mortenson, Founder & Chief Scientific Officer of Clene Nanomedicine. “Maryland’s community of innovators and state-of-the-art facilities will enable the accelerated development of Clene’s neuroprotective therapeutic. We look forward to expanding our partnership with the State and the Town of Elkton.” The project aims to attract additional work force and investment, and continued discussions are presently underway with the State of Maryland and the Town of Elkton. Visit here for the full release and here for the full list of awards. About CleneClene is a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative disease with potential first-in-class nanotherapeutics to treat energetic failure, an underlying cause of many neurological diseases. Our lead drug candidate, CNM-Au8, is an oral suspension of gold nanocrystals that drive critical cellular energetic metabolism in the central nervous system (CNS). CNM-Au8 increases energy production and utilization to accelerate neurorepair and improve neuroprotection. CNM-Au8 is currently being evaluated in a Phase 3 registration trial in amyotrophic lateral sclerosis (ALS) and a Phase 2 trial for the treatment of chronic optic neuropathy in patients with stable rela...