Crinetics Pharmaceuticals Awarded $2.7MM Fast-Track NIH SBIR Grant for Chronic Pain
SDEE member Crinetics Pharmaceuticals was awarded a $2.7MM fast-track Phase I SBIR grant from the National Institute of Neurological Disorders and Stroke (NINDS) of the National Institutes of Health (NIH) to develop somatostatin receptor agonist drugs targeting chronic pain.
“Chronic pain imposes an enormous physical, emotional, and socioeconomic burden on patients and their caregivers,” said Scott Struthers, Ph.D., Founder and Chief Executive Officer of Crinetics. “In the United States, the annual cost of health-care expenditure and work days lost due to chronic pain is estimated to be greater than $100B."
"This award is an outstanding example of the NIH’s strategy to encourage small companies to create innovative new therapeutics that address areas of high unmet medical need and help replenish the pharmaceutical industry drug pipeline. We are proud to be a part of that effort.”
Crinetics is a San Diego company that discovers and develops novel therapeutics for the treatment of endocrine diseases and cancer.