11:43 AM EDT, 04/29/2024 (MT Newswires) -- BioVie ( BIVI ) said Monday it received a clinical trial grant of up to $13.1 million from the US Department of Defense to evaluate bezisterim, or NE3107, as treatment for neurological symptoms linked to long COVID.

The grant, awarded via the Peer Reviewed Medical Research Program of the Congressionally Directed Medical Research Programs, offers up to two years of non-dilutive funding for a Phase 2b clinical trial evaluating bezisterim, according to BioVie ( BIVI ).

The DoD has allocated $499,200 for the planning phase of the project, with an option to proceed to the $12.6 million clinical trial afterward, the company said.

The trial is expected to begin by early 2025, BioVie ( BIVI ) said.

BioVie ( BIVI ) shares were up 3.8% in recent trading.

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