CombiGene receives a second payment of EUR 1.21 million from Horizon 2020
May 15, 2018, CombiGene announced that Horizon 2020, the EU framework program for research and development, will invest EUR 3.36 million in CombiGene’s ongoing development and commercialization of the company’s gene therapy project focusing on hard-to-treat epilepsy. The upfront payment amounted to EUR 1.51 million. The second payment amounts to EUR 1.21 million and has now been payed after a careful examination of the project by EU and their external reviewer.
“The payment from Horizon 2020 is a confirmation of the progress that has been made within the CG01 project, not least the work we are doing together with CGT Catapult to develop a commercially viable production method”, says Karin Agerman, Karin Agerman, Chief Research and Development Officer at CombiGene. “In addition to getting our report approved and the money paid to our account, we have also received positive feedback and valuable recommendations from Horizon 2020’s external reviewer. That our epilepsy project is one of the projects that Horizon 2020 has chosen to invest in means a lot for CombiGene. In addition to the capital that is provided into the project, it is also a significant seal of excellence of our development work and commercial potential.”
CombiGene’s lead project CG01 has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 823282
CombiGene’s vision is to provide patients affected by severe life-altering diseases with the prospect of a better life through novel gene therapies. CombiGene’s business concept is to develop effective gene therapies for severe life-altering diseases where adequate treatment is currently lacking. Development assets are sourced from an external research network and developed to achieve clinical proof of concept. Drug candidates for common diseases will be co-developed and commercialized through strategic partnerships, while the company may manage this process on its own for drugs targeting niched patient populations. The company is public and listed on the Swedish marketplace Nasdaq First North Growth Market and the company’s Certified Advisor is FNCA Sweden AB, +46 (0)852 80 03 99 email@example.com.