May 2013: $1.5m grant from Michael J Fox Foundation
Following a competitive process, the company was awarded this grant which constituted a non-dilutive investment into the company. This research was successfully completed and demonstrated that DPI-289 had antiparkinsonian beneficial effects in rodents and non-human primates and did NOT show dyskinesia liability. The drug appeared to act synergistically with L-DOPA, enabling an L-DOPA-sparing strategy and reduced dyskinesia.
May 2012: Inception loan from North Carolina Biotech Center
Dina Pharma was awarded this loan following a competitive process. The company is registered in Delaware and is licenses to operate in North Carolina. Management is grateful for this initial helping hand and was able to pay back the loan with interest.