MitoChem Therapeutics Receives $900,000 Foundation Fighting Blindness Award to Study Target and Mechanism of Action in Retinal Degenerative Diseases
Charleston, S.C., September 21, 2023 – MitoChem Therapeutics, Inc., a privately held company developing therapies for diseases involving mitochondrial dysfunction, announced today a $900,000 award from the Foundation Fighting Blindness. This funding will allow MitoChem to advance its understanding of the mechanism of action of their lead compound in treating a range of retinal degenerative diseases.
One of the contributing factors to mitochondrial dysfunction is the formation of aggregates or biomolecular condensates on or within mitochondria. The research will focus on the compound's impact on biomolecular condensates, which are implicated as a key driver of pathology in neurodegeneration and diseases impacting high metabolic organs. Because the retina is one of the highest energy consuming systems in the human body, deficits in energy supply can be catastrophic. If unreasolved, the metabolic crisis leads to cell death and vision loss.
Thus, compounds that clear these condensates might have beneficial effects.
"We are delighted to have the ongoing support from the Foundation Fighting Blindness. Their investment will allow us to refine the mechanism of action of our lead compound, to complement our existing proof of concept in animal data," said Michael Voevodsky, CEO of MitoChem.
This funding comes from the competitive Translational Research Acceleration Program (TRAP), which awards proposals of the highest scientific merit that will advance the foundation’s goals and objectives for treating retinitis pigmentosa, dry macular degeneration and the entire spectrum of retinal degerative diseases. TRAP awards accelerate the movement of preclinical research toward clinical utility, providing a robust and diverse pipeline of potential therapies to fight inherited retinal degenerations and dry age-related macular degeneration.
“MitoChem’s unique disease agnostic approach is compelling as it has the potential to treat a broad range in retinal disease, many of which have no available therapy today” said Chad Jackson Ph.D., Senior Director at the Foundation Fighting Blindness.
About MitoChem Therapeutics
MitoChem Therapeutics is a privately held company developing therapies for diseases involving mitochondrial dysfunction. The company was founded to develop a new approach to treating neurodegeneration and aging diseases by focusing on protecting mitochondrial homeostasis. Early funding by the Foundation Fighting Blindness and NIH has resulted in a proprietary library of mitochondrial protective compounds, and early proof of concept in numerous in vivo models for retinitis pigmentosa (RP), age-related macular degeneration (AMD) and kidney indications. The lead compound MC16 is a first-in-class small molecule that up-regulates pro-survival and anti-oxidant pathways. In 2021 the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation status to MC16 for treatment of RP. The company is pursuing partnerships to develop non-ophthalmic indications such as Parkinson's, Alzheimer's, ALS, muscular dystrophies, diabetes, ischemias and kidney diseases. For more information, please visit www.mitocheminc.com.
FOR MORE INFORMATION, CONTACT:
Michael Voevodsky