Timber Pharmaceuticals Announces Award of Second Tranche of FDA Orphan Products Clinical Trials Grant
BIOPHARMX CORP (BPMX)
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Source: PR Newswire
WOODCLIFF LAKE, N.J., April 6, 2020 /PRNewswire/ -- Timber Pharmaceuticals LLC ("Timber"), a privately held biopharmaceutical company focused on the development and commercialization of treatments for orphan dermatologic diseases, today announced the company has been awarded the second tranche of $500,000 of the $1.5 million grant from the U.S. Food & Drug Administration (FDA) Office of Orphan Products Development (OOPD) Orphan Products Clinical Trials Grants Program after reaching certain clinical milestones in the development of TMB-001 (topical isotretinoin). "We are pleased to close on the second tranche of the grant that was first awarded to us by the FDA in 2018 through a highly competitive program that supports important clinical studies that might lead to the regulatory approval of products for rare diseases with high unmet need," said John Koconis, chief executive officer of Timber. "We believe this is a clear sign that we are making progress in the development of TMB-001 and
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