SoundPipe awarded VBHRC Catalyst Grant
SoundPipe Therapeutics LLC announced that it received a $600,000 award in grant funding from Virginia Catalyst. The funding will further the commercialization of SoundPipe’s flagship therapeutic device, Penello. Penello enables doctors to provide targeted, micro-delivery of drugs using ultrasound and microbubbles. Penello is being developed to deliver paclitaxel to treat critical limb ischemia, or blockages in the peripheral artery in the legs.
“Our team is grateful for the support from Virginia Catalyst in bringing Penello another step closer to our ultimate goal of improving patient outcomes for PAD patients, who too frequently find themselves facing limb amputation as their only medical option,” said SoundPipe Founder and Chief Executive Officer, Joseph Kilroy. “Virginia Catalyst’s funding will allow us to perform preclinical validation of Penello with Dr. Klibanov of the University of Virginia, and Drs. Levy and Mangino of Virginia Commonwealth University, while maintaining our focus on bringing this technology to market.”
“SoundPipe’s management team has built powerful collaborations with the University of Virginia and the Virginia Commonwealth University to address problems with Critical Limb Ischemia (CLI). There work will save limbs and lives. We are excited to assist them in developing and commercializing this important technology,” said Mike Grisham, CEO of Virginia Catalyst.
About Critical Limb Ischemia
Affecting over 30 million patients worldwide, Critical Limb Ischemia (CLI) is a growing unmet need that results in over 40,000 amputations in the US alone each year. Existing interventions lack durability, requiring a repeat intervention as soon as 3 months later in the majority of CLI patients. There is no FDA approved technology to improve procedure durability below-the-knee.
About Virginia Catalyst
The Virginia Catalyst grant program is a competitive funding commercial products or services that address large, unmet human health market needs through collaboration and a demonstrated economic benefit for the Commonwealth. https://www.virginiacatalyst.org/
About SoundPipe Therapeutics LLC
Founded in 2013, SoundPipe is a biotechnology company whose mission is to bring ultrasonic drug delivery to the clinic for safer and more effective therapies. Its flagship platform, Penello, is a vascular drug delivery catheter that uses ultrasound to provide safe, long-lasting blood flow after angioplasty by delivering an antiproliferative drug at a low dose. Currently under development, this patented technology will revolutionize the treatment of critical limb ischemia (CLI). https://www.sound-pipe.com/
