HHS GRANTS WILL PROMOTE MEDICAL INNOVATION IN SOUTHEASTERN PA

Costello Announces Grants Awarded to Progenra and VenatoRx

West Chester, PA – June 22, 2015 – (RealEstateRama) – Congressman Ryan Costello (PA-06) announced that two Malvern medical companies will be the recipients of U.S. Department of Health and Human Services federal grants.

Costello announced that Progenra, located in Malvern, PA, will receive a $224,804 award from in cooperation with HHS and the National Institute on Aging. The award will be allocated towards neurodegenerative disease and aging research.  Additionally, the National Institute of Allergy and Infectious Diseases awarded VenatoRx Pharmaceuticals, located in Malvern, a $300,000 Small Business Innovation Research (SBIR) grant. The award will be allocated for infectious disease research.

The Department of Health and Human Services (HHS) works cooperatively with the National Institute on Aging and the National Institute of Allergy and Infectious Diseases to provide funding critical to helping medical innovators continue to conduct necessary research in their field.

“I am pleased that both VenatoRx and Progenra will receive funds vital to research projects that will lead to medical innovation,” Costello said. “Southeastern Pennsylvania is a hub of medical industry and by awarding these funds, we will ensure that research and discovery are possible to assist consumers, patients, and their families.”

“We are delighted to receive this grant from the National Institute of Allergy and Infectious Diseases,” said Christopher Burns, President and Chief Scientific Officer of VenatoRx.  “With these resources we can continue critical research toward addressing the recent wave of multidrug–resistant bacterial infections.”

“We are thrilled the federal government continues to recognize Pennsylvania as a leader in innovative research,” said Christopher Molineaux, President and CEO of Pennsylvania Bio. “VenatoRx and Progenra are two examples of life sciences companies whose efforts can improve the lives of patients.”

Congressman Ryan Costello represents portions of Berks, Chester, Lebanon and Montgomery Counties. VisitCostello.house.gov for more information.

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