GALVmed receives funding approval for Tryps Phase 3 program
GALVmed has received funding totaling $19 million for its Improved Tools for the Control of Animal African Trypanosomosis, Phase 3 (Tryps 3) program.
Co-funded by the UK government and the Bill & Melinda Gates Foundation, the key task of the program is to commercially develop a listed therapeutic trypanocidal product, prepared for sale through GALVmed's unnamed commercial partner.
Tryps 3 follows the successful conclusion of extensive early-stage and mid-stage product R&D for a new trypanocidal drug which is capable of efficiently meeting the needs of pastoralists and smallholder farmers in Africa.
The foundation of the Tryps program arises from the severity of animal African trypanosomosis, which is a protozoan parasitic disease transmitted by tsetse and other biting flies, that affects nearly all domestic animals and is present in 40 African countries.
GALVmed said the disease causes an estimated annual economic impact of $650 million across Africa, with the wider global financial impact at apparently an estimated $4.75 billion per year.
Current trypanocidal drugs are widely available on the African continent but according to GALVmed, they have significant limitations in terms of safety and efficacy against evolving drug strains.