Quest for the cure. Newsletter 2020 – Issue 2; Business Update - Hamlet Pharma receives EU grant for €2.2M
Last month, members of the Hamlet Pharma Executive Team travelled to Brussels in order to make a formal presentation of its grant request, Alpha 1H – A Unique Bladder Cancer Therapeutic, Acting with Great Precision, to the European Commission, Horizon 2020 – Research and Innovation Framework Programme. This is an extremely competitive programme, where innovators and business from all industries and backgrounds from across Europe, fight for funding with which to drive their respective visions further.
We are extremely pleased and proud to announce that Hamlet Pharma’s grant application not only received highest marks, but was also approved in full, to the amount of €2.2M. “The fact that the EU chooses to invest in our project is a very important quality stamp, confirming the potential of Hamlet Pharma” says Catharina Svanborg, founder and chairman of the board at Hamlet Pharma AB.
How will these additional funds be used ?
In line with Hamlet Pharma’s goals and visions, these funds will be used to achieve key milestones, within the areas of clinical trials, drug formulation and organizational development.
Further clinical research
The funding is specifically allocated to HAMLET Pharma for completing dose escalation trials and to design and plan the next development phase towards further clinical trials. These trials will ensure the ability to identify the correct dosage and frequency of treatment required with Alpha 1H to achieve optimal therapeutic effect. We will therefore continue to expand our current clinical trial development programme in dialogue with with our network of international Key Opinion Leaders.
Alpha 1H – further substance development
Together with its subcontracting partners, Hamlet Pharma will develop a new drug formulation of Alpha 1H (a lyophilized, or freeze dried drug product) manufactured to GMP compliance. This new formulation of Alpha 1H will have a longer shelf life, consistent quality and commercial quantity, and enable us to broaden the treatment spectrum to include further indications.
Hamlet Pharma has a lean and effective core management team which is further augmented by a vast network of legal, regulatory, and financial advisers. To build the company to meet future requirements, Hamlet Pharma will be recruiting additional dedicated and experienced members of the team, who can take responsibility for several key areas such as Financing, Business Development and Communication. Among other critical tasks identified by the EU are to address commercialization strategies (including the identification of and negotiation with, potential licensing partners), pricing and reimbursement strategies to enhance market uptake, and clear and consistent communication to both key stakeholders and the general public.
Additional funding requirements ?
Thanks to the Horizon 2020 EIC grant, Hamlet Pharma has a very stable financial position and no immediate need to raise further capital. In view of the current financial climate, we consider the timing of the EU grant quite fortunate and hope that our shareholders appreciate the importance of this addition of outside capital to the company.
Hamlet Pharma is continuing research and development with full force including the IP position and plans for further clinical activities. Considering the COVID19 pandemic, time lines will be uncertain and adjusted accordingly.
For more information, please contact
Catharina Svanborg, Chairperson of the board, Hamlet Pharma, +46 709 42 65 49
Mats Persson, CEO Hamlet Pharma, +46 705 17 67 57
About HAMLET Pharma
HAMLET Pharma, listed on Spotlight, develops drugs based on the unique tumoricidal protein-lipid complex, HAMLET, formed by two natural and harmless molecules found in breast milk. Development focuses primarily on drugs, for the treatment and prevention of cancer. HAMLET kills tumour cells and has proven safe in proof-of-concept studies in animal models. Alpha1H is the synthetic variant of HAMLET, which has enabled development of the agent for clinical trials. Alpha1H kills different types of tumour cells and has demonstrated therapeutic effects on bladder cancer in animal models. Hamlet Pharma has one ongoing Phase I/II clinical trial with Alpha1H in patients with bladder cancer, a costly form of cancer that is difficult to treat, and intends to expand its activities into other types of cancer. The first results from the ongoing clinical Phase I/II study shows no side effects of Alpha1H, indicating that the treatment is safe and well tolerated. Alpha1H also demonstrated clinical efficacy compared with patients who received placebo.