Lancaster biotech Simulations Plus has won a $400,000 grant as part of a cooperative agreement with the U.S. Food and Drug Administration, the company said in a statement Thursday.
Simulations Plus, which specializes in drug modeling software, will use the grant to further develop software which simulates drug delivery approaches through the eyes.
FDA scientists as well as staff from pharmaceutical and generic drug companies will use Simulations’ software — the Ocular Compartmental Absorption and Transit model within its GastroPlus platform — as part of the agreement. Such companies were not mentioned in the statement.
“Our relationship with the FDA on enhancements to the OCAT model dates back to 2014, and the funding, scientific interactions and resulting publications have established it as the preeminent “in silico” (meaning via computer simulation) approach in the area of absorption of drugs applied to the eye,” John DiBella, president of the Lancaster division of Simulations Plus, said in a statement.
“Similar to previous awards, Simulations Plus will own all intellectual property developed within the GastroPlus program, and updates will be integrated into future versions and made available to clients,” added DiBella.
Shares of Simulations Plus (SLP) closed Thursday up $8.93, or more than 22.6 percent, to $48.43 on the Nasdaq, on a day when that market closed up 1 percent.