Benzinga | May 12, 2021 07:31AM EDT

Cassava Sciences Announces New $2.7M Grant Award From NIH

Cassava Sciences, Inc. (NASDAQ:SAVA), a clinical-stage biotechnology company focused on Alzheimer's disease, today announced that it has been awarded a new $2.7 million research grant award from the National Institutes of Health (NIH). This research grant is intended to fund clinical readiness activities in support of Cassava Sciences' upcoming Phase 3 program with simufilam, its drug candidate for Alzheimer's disease.



"We appreciate the continued scientific and financial support provided by NIH for simufilam," said Remi Barbier, President & CEO of Cassava Sciences. "We believe simufilam's clinical safety, unique mechanism of action and constellation of clinical and biomarker results to date all point to long-term disease modification and we are excited to join hands with NIH on this program."

The NIH's National Institute on Aging (NIA) awarded Cassava Sciences this $2.7 million research grant award following peer review of clinical and scientific data for simufilam. Peer review is a process whereby independent, outside scientists with relevant expertise evaluate the merits of new and innovative research.