GERMANTOWN, Md. - Marylandian -- Primetime Life Sciences, LLC,  a Maryland based pharmaceutical company focused on discovery and development of new and smart treatments, announced today that the company has successfully met the Phase I grant milestones, and has been awarded Phase II funding of $2.63 million from a Fast Track Small Business Innovation Research (SBIR) grant from the National Institute of Mental Health (NIMH). The SBIR program supports scientific excellence and technological innovation by encouraging small businesses to engage in translation research and bring innovative treatments.

The grant will support the development of the Company's lead compound, PTLS-181, for an innovative treatment of depression.  Depression is a severe medical condition that affects millions of people with significant individual suffering and places an enormous socioeconomic burden for society.

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Dr. Janak Padia, President and CEO of Primetime Life Sciences, stated, "We had put forward very aggressive Phase I milestones to provide a compelling rationale for PTLS-181 to initiate IND-enabling studies.  We have successfully met these milestones. We are excited to progress PTLS-181 through IND-enabling studies and develop an efficacious treatment for depression."

NOTES TO EDITORS

About Primetime Life Sciences, LLC

Primetime Life Sciences (www.primetimelifesci.com) is a Maryland-based discovery and development company focusing on small molecule drugs. Our mission is to expedite the discovery and development of new and smart treatments by using a multi-disciplinary, highly collaborative, "bench-to-bedside" approach. The Company has developed a mutual prodrug platform using "Metformin Linker Kit" to improve pharmacokinetic and safety profiles of known drugs. The Company pipeline includes CNS, cancer, and parasitic therapeutics. For more information, please contact Dr. Janak Padia, Email: jpadia@primetimelifesci.com
http://www.primetimelifesci.com