Procyon Biopharma receives $980,000 from IRAP

Montreal's Procyn Biopharma Inc has received a repayable contribution of $980,000 from the Industrial Research Assistance Program for the early clinical development of PPL-100, a protease inhibitor for the treatment of drug-resistant HIV. Procyon received Health Canada approval last December to initiate the first-in-human Phase I clinical trials for PPL-100, an anti-viral agent with a high genetic barrier and favourable cross-resistance profile. Repayment is scheduled to begin in 2009 based on revenues generated by Procyon....