Inhibitex Awarded $489,000 in Grants under the Therapeutic Discovery Tax Credit Program

ATLANTA--(BUSINESS WIRE)-- Inhibitex, Inc. (NASDAQ: INHX) has been awarded approximately $489,000 in grants under the Qualifying Therapeutic Discovery Project ("QTDP") Program. This program was created under the Patient Protection and Affordable Care Act of 2010 to provide tax credits or grants representing up to 50 percent of eligible qualified investments in therapeutic discovery projects during tax years 2009 and 2010.

Inhibitex was awarded the grants for FV-100, which is in Phase II clinical development for the treatment of shingles, and INX-189, a nucleotide polymerase inhibitor in Phase 1b clinical development for the treatment of chronic hepatitis C infections.

About Inhibitex

Inhibitex, Inc. is a biopharmaceutical company focused on developing products to prevent and treat serious infectious diseases. The Company’s clinical stage pipeline includes FV-100, a bicyclic nucleoside inhibitor in Phase II development for the treatment of shingles, and INX-189, a nucleotide polymerase inhibitor in development for the treatment of chronic infections caused by hepatitis C virus (HCV). The Company also has additional HCV nucleotide polymerase inhibitors in various stages of preclinical development and has licensed the use of its proprietary MSCRAMM® protein platform to Pfizer for the development of active staphylococcal vaccines. For additional information about the Company, please visit www.inhibitex.com.



CONTACT:

Inhibitex, Inc.
Russell H. Plumb, 678-746-1136
Chief Executive Officer
[email protected]
or
The Trout Group
Lee M. Stern, CFA, 646-378-2922
[email protected]

KEYWORDS:   United States  North America  Georgia

INDUSTRY KEYWORDS:   Health  Biotechnology  Clinical Trials  Hospitals  Infectious Diseases  Pharmaceutical  Research  Science

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