PROGENICS GETS $10.1 MILLION NIH GRANT

Biopharmaceutical company Progenics Pharmaceuticals Inc. said Friday that it received a $10.1 million grant from the National Institutes of Health for its novel HIV drug that recently completed an early stage clinical trial. The company received the grant for its HIV inhibitor PRO 140, a monoclonal antibody that has been shown in lab studies to block a cellular doorway called CCR5 which HIV uses to infect cells. With the grant, the company will work with the Weill Medical College of Cornell University, Beth Israel Medical Center and Monogram Biosciences Inc. to develop PRO 140 over the next three and a half years.

Forbes (http://www.forbes.com/business/feeds/ap/2005/09/09/ap2215614.html)