CombiGene receives the second instalment of EUR 1.21 million from Horizon 2020
This is an article from Ingenious number four 2019.
In May 2018 Horizon 2020, the EU framework programme for research and development, decided to invest EUR 3.36 million in the ongoing development and commercialization of the CGO1 gene therapy project. The initial payment from Horizon 2020, made in autumn 2018, amounted to EUR 1.51 million. The second payment amounted to EUR 1.21 million and was made in November this year after a thorough review of the project by the EU and external reviewers.
“The payment from Horizon 2020 is an acknowledgement of the progress that has been made in the CG01 project and, not least, of the work we are doing with CGT Catapult to develop a GMP-adapted production method,” says Karin Agerman, Chief Research and Development Officer at CombiGene. “In addition to having our project report approved and funding paid out, we have also received positive feedback and valuable recommendations from Horizon 2020’s external reviewers. That our epilepsy project is one of the projects which Horizon 2020 has chosen to invest in means a lot to CombiGene. Besides the capital injection in the project, this is also a valuable stamp of quality assurance for our development work and our 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 firstname.lastname@example.org.