RIGS edged back into the headlines (and I think should have gained a little more credibility) by being awarded a grant from the NIH - obviously someone feels the technology is worth investing in (...and the cash ain't bad ether!).
Anyone know why we got punished so badly today? OPEX? The SBIR news sure didn't do us any good - and the amount is peanuts compared to what we'll need to spend on RIGS:
The SBIR grant has the potential for grant money up to a total of $1.5M over three years if fully funded. The first-year Phase I funding of $315,000, which has already been approved, is expected to enable Navidea to complete preclinical bridging activities using a RIGS tumor-antigen-targeted monoclonal antibody and prepare a standardization clinical trial protocol. Second and third year (Phase II) funding of up to $1.2M is contingent upon meeting certain Phase I success criteria, including Institutional Review Board (IRB) approval of the clinical trial protocol.
