Horizon 2020 continues to invest in CombiGene´s epilepsy project
On 15 May 2018, CombiGene announced that Horizon 2020 – EU’s Framework Programme for Research and Development – is investing EUR 3.36 million in CombiGene’s continued development and commerzialisation of the gene therapy project CG01, which is developed to treat drug-resistant focal epilepsy.
The Horizon 2020 program runs for several years, and the initial payment amounted to EUR 1,51 million. The second payment, made in November 2019, amounted to EUR 1.21 million.After careful review of the CG01 project by the EU and their external auditors, CombiGene has today received a third payment of EUR 130,000.
In total, CombiGene has received 85 percent of the total grant. CombiGene expects to receive an additional one to two payments before the total amount of EUR 3,36 million has been reached.
“The payment from Horizon 2020 is further confirmation of the progress made in the CG01 project, not least the work we are carrying out to develop a commercially viable and future-proof production method,” says Karin Agerman, Chief Research and Development Officer at CombiGene.
“In addition to having our project report approved and the money paid out, we have also received positive feedback and valuable recommendations from Horizon 2020’s external reviewers. The fact that our epilepsy project is one of the projects that Horizon 2020 has chosen to invest in means a lot to CombiGene. In addition to the capital provided to the project, it is also a significant seal of quality on our development work and our commercial opportunities.”
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.