Lumberville Pharmaceutical Company Lands Multimillion-Dollar Grant

Image via Advent Therapeutics.
The company has operated out of Bucks County for many years.

Lumberville-based Advent Therapeutics has landed a $3 million grant from the National Institute of Health to advance its treatment for preventing a rare lung disease affecting premature infants, writes John George for the Philadelphia Business Journal.

The breathing disorder known as bronchopulmonary dysplasia is the most common serious complication among premature infants.

Advent describes its treatment as a preventative non-invasive neonatal lung therapy that contains a proprietary formulation of optimized retinol palmitate. The company has developed both injectable and aerosolized formulations of the experimental therapy.

According to the company, the potential peak market for the preventative therapy is over $100 million annually. Currently, there are no Food and Drug Administration-approved drugs to prevent the condition. Advent estimates that costs for the treatment of an infant with bronchopulmonary dysplasia in U.S. hospitals in the first year are about $442,000. The average first year hospital stay is 103 days.

The company’s goal is to commercialize its treatment in the U.S. by 2025.

“This NIH award will allow us to greatly accelerate the development and advance towards approval of our optimized vitamin A drug product,” said David L. Lopez, CEO of Advent Therapeutics.

Read more about Advent Therapeutics in the Philadelphia Business Journal.


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