EU to disburse the remaining MSEK 4.7 of the Horizon grant

Idogen AB (publ) develops tolerogenic cell therapies to treat conditions or illnesses that are caused by an adverse immune response.  The EU has approved the final report of the Horizon 2020 project for development of tolerogenic cell therapies, and the company has thus received the remaining MSEK 4.7.

In May 2017, Idogen was granted research funding of MEUR 2.86 (just over MSEK 29) from Horizon 2020 (the EU Framework Program for Research and Innovation) to develop the company’s tolerogenic cell therapy, developed for the treatment of patients with severe hemophilia who have developed anti-factor VIII neutralizing antibodies during treatment.

Project briefings have been presented on a regular basis, and the final report was presented this past summer. Following approval of the final report, the EU disbursed the remaining close to MSEK 4.7 in September and October.  The payment will have an impact on Idogen’s cash in hand, but not on its results since it was recognized in profit and loss in 2021.

“We are extremely pleased to have been awarded valuable financial support for development of the IDO 8 program in 2017 amid some tough competition.  With this final report we are done and  we have even enrolled the first patient into our Phase I/IIa trial. Again we have the possibility to apply for grants from other EU programs in 2023. We also routinely investigate possibilities for other forms of development support,” says Christina Herder, acting CEO.

For further information, please contact:

Christina Herder, Acting CEO, Idogen AB

Tel: +46 70 374 71 56

E-mail: christina.herder@idogen.com

Certified Adviser:
Vator Securities AB.

The information was submitted for publication through the agency of the contact persons set out above on October 17, 2022 at 08:03 CET.

Idogen (Nasdaq First North Growth Market: IDOGEN) develops tolerogenic cell therapies to prevent the patient’s immune system from attacking biological agents, transplanted organs or the body's own cells or tissue. The company’s most advanced program, IDO 8 – now entering its clinical phase – is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralizing antibodies.  For these hemophiliac patients, there is significant medical need for restoring the clinical effects of their treatment with factor VIII. This is a unique market positioning that over the long term could replace immune tolerance induction (ITI) treatments, with significant market potential. The planned IDO 8 clinical trial will validate the company’s technology platform and facilitate a range of other applications in fields such as organ transplants (IDO T)  and autoimmune diseases (IDO AID). More information about Idogen is available via https://www.idogen.com