Follicum receives Eurostars grant to develop the company's first-in-class treatment of diabetes
Follicum today announces that the company’s application for a Eurostars grant comprising the development of a first-in-class treatment for diabetes has been approved. Follicum is the coordinator of the project. Other partners include Lund University, Bioassay Labor für biologische Analytik GmbH and Deutsche Diabetes-Forschungsgesellschaft (DDZ).
The grant comprising just under EUR 0.7 M commences December 1, 2019 and provides additional resources for the Company's development of a peptide-based treatment of diabetes. Follicum, together with other partners in the consortium, will study Follicum's peptides and their ability to induce insulin secretion, while protecting and preserving pancreatic cells and preventing diabetic complications. The project will also conduct the preclinical studies necessary for laying the foundation for a new candidate drug for the treatment of diabetes and its serious complications. These activities enable subsequent GMP production, safety studies and clinical validation.
CEO Jan Alenfall comments:
- We are delighted to have received the announcement that our application has been granted and we can now, with greater focus, develop our drug candidate in diabetes into a first-in-class treatment that can benefit patients. The partners in the consortium are all reputable and leading in their respective research fields, and we look forward to collaborating in this project.
For further information, please contact:
Jan Alenfall – CEO, Follicum AB
Telephone: +46 46 19 21 97
Email: info@follicum.com
This information is information that Follicum is obliged to make public according to the EU Market Abuse Regulation. The information was provided through the agency of the contact persons above, for publication on the 24th of October 2019.
About Diabetes
Diabetes is rapidly increasing globally. The disease is characterized by poor blood sugar control due to defective insulin signaling, which causes serious sequelae such as cardiovascular disease, renal failure, obesity, blindness and diabetic foot ulcers. Diabetes as well as it’s accompanying illnesses represent a major burden, partly for the individual patient, but also for the entire health care system. There is thus an already large and growing global need for new therapies that address effective control of glucose levels in combination with preventive effects on the various diabetic complications.
About Follicum AB
Follicum is a biotech company focused on the discovery and development of peptide-based drugs. The primary focus is in hair growth stimulation, where Follicum has obtained very promising results with FOL-005 in a recently completed clinical trial. In diabetes, Follicums research has resulted in a new peptide class which significantly increases the release of insulin in pre-clinical models. The company was founded in 2011, and is based in Lund, Sweden. Follicum is listed on the Swedish small cap exchange Spotlight since 2014. www.follicum.com.
About Lund University Diabetes Center (LUDC)
Lund University Diabetes Center, LUDC, is a consortium of research groups at Lund University that focuses on research on the pathogenesis and treatment of diabetes mellitus. https://www.ludc.lu.se.
About Bioassay
Bioassay GmbH is an independent contract laboratory specializing in the development, validation and execution of bioanalytical analyzes in the field of pharmacology and toxicology. http://www.bioassay-online.de/home.html
About DDZ
DDZ is an interdisciplinary research center that combines molecular, clinical and epidemiological work to improve prevention, early detection, diagnosis and therapy of diabetes mellitus and its associated secondary complications. https://ddz.de/en/
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