Horizon 2020 provides EUR 3.6 million financing to CombiGene

| By | Gene Therapy, Investments
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Horizon 2020, the EU framework programme for research and development, will invest 3.6 million euros in CombiGene’s ongoing development and commercialization of the company’s gene therapy project focussing on difficult-to-treat epilepsy.

During 2017, with three successful preclinical studies, CombiGene took three decisive steps towards the development of an approved gene-therapeutic treatment of difficult-to-treat epilepsy. In January 2018 the company chose British CGT Catapult as a partner for development of a complete and finalized manufacturing method that will enable CombiGene to proceed with commercial GMP manufacturing and subsequent clinical trials. The capital from Horizon 2020 will partly fund this development work.

Several terms must be met before the payment can be disbursed. Among other things, the company must secure part-funding of the project amounting to 30 percent of the contribution from Horizon 2020. The management and board are now assessing how this obligation for part-funding will be met.

”To receive notification that the EU, via Horizon 2020, is prepared to contribute 3.6 million euros to fund CombiGene’s ongoing development is one of the absolute highlights of my long career in the Swedish and international pharmaceuticals industry. CombiGene’s management, researchers and board have worked very intensively to make this very significant success possible. In concrete terms, this capital injection means that we can continue our product and business development exactly according to plan and without delay. The evaluation of CombiGene carried out by Horizon 2020 covers not only the quality of our research and development, but also our team team and our plan for commercialization,” says Jan Nilsson, CEO, CombiGene.

CombiGene AB  was founded in 1999 and is headquartered in Lund, Sweden. Company engages in the development of methods for the treatment of epilepsy and other neurological diseases. Its platform is based on the use of gene therapy technology for treatment of neurological or psychiatric disorders in humans. The company primarily develops a method of treatment in preclinical studies to prevent epileptic seizure.

SOURCE: combigene
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