ValiRx-led group awarded €1.6m
British biopharmaceutical company ValiRx and Finnish pharmaceutical research organisation Pharmatest Services have been awarded a second grant from Eurostars. The new funding is worth €1.6m.
This Eurostars grant is ValiRx’s second under their research and development of VAL101 utilising GeneICE. This latest round of funding is for clinical studies of VAL101.
According to Eurostars, the project will “develop a dual targeting system to combat cancer by developing GeneICE technology to enable the selective silencing of specific genes in cell lines and by design and validation of antibody-drug conjugates (ADC) targeted at specific tumour types in cancer”.
Speaking about the award, ValiRx chief executive Dr Satu Vainikka said: “I am delighted to see and grateful for continued support from the Eurostars programme. Their grant will substantially help progress our work on VAL101 and GeneICE, which will in turn, we believe, build value”.
The first Eurostars grant helped to develop a cancer combatting system by researching further into the uses of GeneICE technologies. GeneICE will help target specific cancerous tumour types to reduce their impact and strength by targeting their rebellious gene expressions. Cancers like breast and prostate, but also diseases like leukaemia are within the potential market for products developed with advances in GeneICE technology. The second Eurostars grant continues to affirm the technological progress it represents in biopharmaceuticals.
