The EU continues to invest in CombiGene
CombiGene’s epilepsy project CG01 has already been granted EUR 3.36 million by the EU programme Horizon 2020. Now the EU is also electing to invest in the company’s lipodystrophy project CGT2 through the Eurostars programme, which is aimed at small and medium-sized development companies that intend to make use of the great benefits that international collaborations can bring. In other words, an excellent description of CombiGene.
Eurostars is the largest international financing programme for SMEs that want to collaborate on R&D. Competition is high and grants are only allocated to projects that come high up the rankings.
Eurostars allocates EUR 882,500 to CombiGene’s lipodystrophy project. Thanks to the grant, CombiGene will have the fantastic opportunity to broaden its international cooperation in this important project to include the University Medical Center Hamburg-Eppendorf and the CRO company Accelero. The project grant is allocated as follows: CombiGene is allocated EUR 481 000, Hamburg-Eppendorf EUR 265 000 and Accelero EUR 136 500.
About the lipodystrophy project CGT2
The goal of the CGT2 project is to develop a gene therapy treatment for partial lipodystrophy, a rare disease characterized by altered fat distribution on the body. Patients suffer from body fat atrophy. In the absence of normal body fat, various organs begin to accumulate fat, leading on to serious metabolic complications, including extreme insulin resistance, hypertriglyceridemia (elevated values of blood fat triglyceride) and liver steatosis (fatty liver). There are currently a few symptom-relieving treatments for lipodystrophy, but no therapy that targets the root cause of the disease. For patients suffering from partial lipodystrophy, there are currently no treatments at all.
Annika Ericsson is proud of the high ranking
“The news that CombiGene´s lipodystrophy project CGT2 is awarded approximately SEK 9 million is of course extremely gratifying,” says CombiGene’s Preclinical Project Manager Annika Ericsson. “The grant itself is important because it allows us to drive the project forward at full speed. I also see our high ranking among the companies that have applied for funding from the Eurostars programme as confirmation of the scientific height of our project and CombiGene’s ability to conduct effective and successful development work in collaboration with external partners. This is very positive news for CombiGene’s lipodystrophy project and for all the patients waiting for an effective treatment of this severe disease.”
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 has an exclusive collaboration and licensing agreement for the CG01 project with Spark Therapeutics.
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.