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NIH Small Innovation Research Grant Gives Big Boost To Maryland Biopharmaceutical Company

Small Business Innovation Research
Sirnaomics, Inc., a leading biopharmaceutical company in Gaithersburg, Maryland, has been awarded a National Institutes of Health (NIH) Small Business Innovation Research (SBIR) grant to continue research on a product called STP705. This product helps minimize scarring during the healing process on skin wounds.

The government funding will enable Sirnaomics to continue their research on this new pharmaceutical drug compound that could potentially help 42 million surgery patients annually in the United States alone. This is the fifth NIH SBIR grant the company has been awarded, in addition to other grants from the government.

The NIH, part of the U.S. Department of Health and Human Services, is the nation's medical research agency that supports scientific health studies. The SBIR program was established under the Small Business Innovation Development Act of 1982, setting aside 2.6% of the agency's budget to provide financial support for research and development by small businesses on products that have the potential for commercialization.

SBIR grant application deadlines are usually in April, August and December of each year. Grant awards are usually in two phases, with the first phase up to $150,000 for six months, and the second phase up to $1 million for two years.

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