Helmsley Charitable Trust Launches $6.5 Million Funding Initiative for New Technologies to Address Type 1 Diabetes




Contact:
Kevin Cavanaugh
kcavanaugh@helmsleytrust.org

212-953-2876

March 18, 2013, New York, NY – The Leona M. and Harry B. Helmsley Charitable Trust today announces that it has approved more than $6.5 million in grants to seven recipients seeking to develop new technologies that will improve the management and ease the burden of people living with Type 1 Diabetes (T1D). The grants have been made through the Trust’s Type 1 Diabetes Program as part of its Emerging Technology Initiative (ETI). The goal of the ETI is to fund earlier stage projects focused on drugs, devices or therapies that will ease the burden of managing T1D and move them down the path towards commercialization.

The initiative, which was launched via a request for proposal process in the spring of 2012, has sought to identify unique, high-potential projects that are early in their development cycle across several broad areas of T1D-related technology. As the overall objective of these grants is to fund the development of the best possible solutions for patients, the Trust accepted applications from, and has awarded funds to, non-profit and for-profit organizations alike. More than 100 applications were submitted over the latter half of 2012, seven of which have been approved for funding. They are:

Case Western Reserve University

Project Title: "Smart Insulins" -- Glucose-Responsive Design of an Ultra-Rapid Subcutaneous Depot

Grant Value/Term: $997,500 over three years

Cell and Molecular Tissue Engineering LLC

Project Title: To Develop and Validate Coatings That can Enhance and Extend CGM Sensor Performance

Grant Value/Term: $996,000 over three years

LATITUDE Pharmaceuticals, Inc.

Project Title: Stabilized Glucagon Formulations Grant Value/Term: $1,000,000 over two years


He lmsley Charitable Trust Launches $6.5 Million Funding Initiative

Pacific Diabetes Technologies

Project Title: Development of a Dual-Function Glucose Sensing and Hormone Delivery Catheter for Use Within an Artificial Pancreas

Grant Value/Term: $999,800 over two years

Regents of The University of Michigan

Project Title: Improved Performance and Biocompatibility of Implantable Glucose Sensors Using Coatings That Secrete Nitric Oxide

Grant Value/Term: $805,550 over three years

Stanford University School of Medicine

Project Title: Development of Insulin Infusion Sets with Prolonged Wear to be Combined With a Glucose Sensor on a Shared Platform

Grant Value/Term: $846,530 over three years

Xeris Pharmaceuticals, Inc.

Project Title: Glucagon Mini-Dose Pen for the Treatment of Moderate Hypoglycemia Grant Value/Term: $928,700 over two years

“Our Emerging Technology Initiative is a natural extension of our overall strategy to initiate and fund efforts that have the strongest potential to advance disease management options and quality of life for patients with T1D,” said Dr. Eliot Brenner, director of Helmsley’s T1D Program. “We believe each of the seven organizations we have supported has the opportunity to develop important new technologies, and we are pleased that our funding may help to more rapidly deliver these technologies to the T1D community.”

About The Leona M. and Harry B. Helmsley Charitable Trust

The Leona M. and Harry B. Helmsley Charitable Trust aspires to improve lives by supporting effective nonprofits in a variety of selected areas. Since 2008, when the Trust began its active grant-making, it has committed more than $800 million to a wide range of charitable organizations. Through the Helmsley Type 1 Diabetes Program, the Trust is one of the largest private funders of T1D-related research, treatment and support programs. For more information, please visit www.helmsleytrust.org.

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