Eugene biotech firm lands $590,000 stimulus

MitoSciences will use federal stimulus funds to research a process that can quickly determine side effects of medicines.

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Eugene Biotech firm MitoSciences has received $590,000 in federal stimulus funds through a competitive grant.

The company says that this money will assist with its research, and help expand employment, making temporary employees permanent and changing some positions from part- to full-time.

MitoSciences, which grew out of research at the University of Oregon, has developed products and services that are used in disease research and development of new drugs by hundreds of labs around the globe, as well as the 10 largest drug companies in the world.

The new grant, from the National Institutes of Health, will be used to develop tests that will help labs and people who treat patients more quickly identify side effects from drugs used to treat HIV and AIDS, hepatitis and other infectious diseases, and also diagnose some inherited diseases.

Read more at the Register Guard.


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