DBP receives EU funding SME instrument Phase I
As previously announced, Double Bond Pharmaceutical has submitted an application to the European Commission for an SME instrument grant within the framework of the Horizon2020 program, where groundbreaking innovation projects with market-generating potential can be supported. The company funds alone to implement a more in-depth and up to date business plan for continued successful development of SI053. The project under the name TARGLIO has now been funded with the amount of SEK 500,000, which corresponds to the entire sought amount and is the ceiling for this type of grant.
"I am glad that we continue receiving support from the European Commission for our projects," comments CEO Igor Lokot. - It is tough competition for Horizon2020 funds in general and for the SME Instrument program In particular, and we see the positive decision as an important quality stamp for our actions and our ambitions”.
More about SMEi phase I: https://ec.europa.eu/programmes/horizon2020/en/h2020-section/sme-instrument
More about SI-053: SI-053 is an innovative drug that is being developed by DBP for the treatment of operable brain cancers, in particular the most aggressive type glioblastoma. SI-053 is today at the edge of entering of the clinical phase of its development and the pre-clinical phase is expected to be completed within a few months. SI-053 has Orphan Drug Designation from EMA since 2016 and the international patent application to protect the technology has resulted so far in an approved patent for SI-053 in Eurasia.
This information is information that Double Bond Pharmaceutical International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8 of April 2019.
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Igor Lokot, CEO
Information on Double Bond Pharmaceutical International AB
DBP is a pharmaceutical company with the primary focus on development of therapies against cancer based on the company’s own developed drug delivery technology BeloGal®. The company was granted Orphan Drug Designation status by European Medicines Agency (EMA) in June 2015 for its first product, SA-033, for treatment of hepatoblastoma. Double Bond Pharmaceutical acquired rights to Temodex, a drug registered in Belarus for treatment of brain tumours, in October 2015, and was granted Orphan Drug Designation status by EMA for in July 2016 for this formulation of temozolomide for the treatment of glioma. The formulation is now being further developed for registration in EU and globally and has a working name SI-053 in DBP pipeline. DBP has during the past year also started two subsidiaries, Drugsson AB for the distribution of fully developed human pharmaceutical and medical device products and dietary supplements in Scandinavia, and FarmPharma AB for the development of innovative veterinary products.