Anacor Pharmaceuticals, a Palo Alto, CA-based biopharmaceutical company developing small molecule therapeutics derived from its boron chemistry platform, was awarded approximately $1.5m in grant funding from the United States Department of the Treasury under the Qualifying Therapeutic Discovery Project Program.
Anacor will receive $1.4m in November 2010 and $0.1m in the first quarter of 2011.
The company has discovered and is developing five clinical compounds, including its three lead programs:
– AN2690, a topical antifungal for the treatment of onychomycosis;
– AN2728, a topical anti-inflammatory PDE-4 inhibitor for the treatment of psoriasis;
– GSK 2251052, or GSK ‘052 (formerly referred to as AN3365), a systemic antibiotic for the treatment of infections caused by Gram-negative bacteria, which has been optioned for development by GlaxoSmithKline under the companies’ research and development agreement;
– AN2718, a topical antifungal product candidate for the treatment of onychomycosis and skin fungal infections;
– AN2898 as a topical anti-inflammatory product candidate for the treatment of psoriasis and atopic dermatitis.
Anacor is a privately held company and investors include Rho Ventures, Venrock Associates, Care Capital Investments and Aberdare Ventures.
The Qualifying Therapeutic Discovery Project Program, which is part of the recently enacted Patient Protection and Affordable Care Act of 2010, provides for $1 bn in federal funds to support research with the potential to produce new therapies for unmet medical needs.