Klaria Receives Third Payment from the EU Horizon 2020 Program Supporting the Development of the Sumatriptan Alginate Film
Klaria reports that it has successfully performed and reported the planned activities under the ongoing European Commission Horizon 2020 Innovation Grant (Grant Number 8296159). The third payment, totaling ca. 2 million SEK has now been confirmed by the EU. Klaria has thus far received approximately 18,5 million SEK of the total 21 million SEK specified in the grant agreement. The project will end on June 30th of this year and Klaria anticipates receiving the full remaining balance upon successful completion of the final report to the EU.
The Horizon 2020 program supporting the Sumatriptan Alginate Film project within Klaria has been designed to support the project over 36 months. The project support from the EU specifically supports the manufacture and clinical testing of the Sumatriptan Alginate Film in its preparation for market authorization in the EU and US.
The competition for this grant was intense, with an average of only 3-4% of grants being awarded to applicants, we are pleased to have been selected for this program based both on the technological promise of this product and on its potential to address a clear unmet medical need in migraine patients. Even more satisfying is that Klaria has executed the project plan and produced results despite the current pandemic conditions which threatened both the manufacture and clinical testing of the product. Dr. Scott Boyer, CSO.
About Klaria’s Sumatriptan Alginate Film (KL-00119): KL-00119 is an alginate-based oral trans-mucosal film. KL-00119 is the first oral trans-mucosal migraine product and is designed to be a significant improvement to all available acute migraine treatments available to patients today, particularly in patients suffering from migraine-induced nausea and vomiting. KL-00119 is also particularly suited for the treatment of migraine in pediatric populations. KL-00119 is a unique molecular dispersion of the active antimigraine drug sumatriptan. The KL-00119 film presents sumatriptan to the oral mucosal surface in a unique way to allow rapid, consistent absorption with the lowest possible burden on the patient. The base film-forming alginate and the sumatriptan-containing films have been the subject of comprehensive intellectual property protection, thus ensuring prolonged market exclusivity. The uniqueness and promise of the KL-00119 has been confirmed by the project being awarded the exclusive European Commission Horizon 2020 Innovation Grant in 2018 (Grant Number 8296159).
For more information, visit the Klaria Pharma Holding website klaria.com or contact:
Jesper Wiklund, CEO Klaria Pharma Holding AB (publ)
investor.relations@klaria.com
Tel: +46 (0) 8-446 42 99
This is Klaria Pharma Holding AB
Klaria (Klaria Pharma Holding AB) is a Swedish listed pharmaceutical company that develops innovative, rapid-acting products. By combining patented technology of a film that attaches to the oral mucosa and well proven pharmaceuticals, the company has developed a drug distribution concept with many benefits and potential uses. Klaria is listed on Nasdaq First North Growth Markets under the short name KLAR. FNCA Sweden is Certified Advisor (info@fnca.se, +46(0) 8-528 00 399) for Klaria Pharma Holding AB. For more information, see www.klaria.com.