MONTREAL--(BUSINESS WIRE)--Giiant Pharma Inc., a Canadian, preclinical-stage biotech company, today announced that the Company will receive financial support from the US Crohn’s and Colitis Foundation, through its IBD Ventures program, for an amount up to US$ 500,000. This financing will support the development of GT-2108, an orally administered, gut-restricted, colon-specific PDE4 (phosphodiesterase-4) inhibitor prodrug for patients affected by moderate-to-severe ulcerative colitis.
Giiant’s Precision Delivery technology platform uses the gut microbiota to bioactivate various poorly-absorbable prodrug therapeutics in order to locally unravel the pharmacological effect within the gastrointestinal lumen. “The financial support of the Crohn’s and Colitis Foundation demonstrates the strong Giiant’s value proposition of its platform for patients suffering from inflammatory bowel diseases, including ulcerative colitis” says Dr. Maxime Ranger, President and CEO of Giiant Pharma Inc.
With this financing, Giiant Pharma will pursue its IND-enabling preclinical program with its lead candidate, GT-2108, in view of an IND filing by Q2 2024. The Company is currently in discussion with potential pharmaceutical partners to co-develop and accelerate the GT-2108 program.
ABOUT THE CROHN’S & COLITIS FOUNDATION
The Crohn's & Colitis Foundation is the leading non-profit organization focused on both research and patient support for inflammatory bowel disease (IBD), with the mission of curing Crohn's disease and ulcerative colitis, and of improving the quality of life of the millions of Americans living with IBD. The Foundation’s work is dramatically accelerating the research process through investment in research initiatives, while also providing extensive educational and support resources for patients and their families, medical professionals, and the public. For more information, visit www.crohnscolitisfoundation.org, call 888-694-8872, or email info@crohnscolitisfoundation.org.
ABOUT GIIANT PHARMA INC
Giiant Pharma (www.giiant.com), a preclinical-stage biotech company, designs gut-restricted small molecule, drug therapeutics with various biological targets in gastroenterology owing to its proprietary Precision Delivery technology platform. Its first lead program GT-2108 is a microbiota-activated PDE4 inhibitor prodrugs, with vastly improved drug tolerability and enhanced therapeutic effect.
