Moberg Pharma to receive Eurostars grant of EUR 0.9 million
STOCKHOLM, June 24, 2015. Moberg Pharma AB (OMX: MOB) today announced that a grant of EUR 0.9 million in public funding has been approved by Eurostars for a project proposal related to late-stage development of Moberg Pharma’s BUPI project.
The Eurostars project “BUPI - a long-acting lozenge with bupivacaine for pain relief of Oral Mucositis in cancer patients” will be managed by Moberg Pharma and includes six external partners in Sweden and Denmark: Oracain ApS, TFS Trial Form Support ApS, Aarhus University Hospital, University Hospital Herlev, PCG Clinical Services AB and Skåne University Hospital. The funding from Eurostars will co-finance late-stage development of the product including a clinical phase III study.
Eurostars is a joint programme between EUREKA and the European Commission, co-funded from the national budgets of 34 Eurostars Participating States and Partner Countries and by the European Union through Horizon 2020. Eurostars supports international innovative projects led by R&D-performing small- and medium-sized enterprises.
“We are delighted to receive the Eurostars grant in strong competition with many other applications across Europe. The grant supports our efforts to provide a longer and more effective pain relief to cancer patients suffering from Oral Mucositis. We expect to report topline results from the ongoing phase II study on BUPI later this year,” said Peter Wolpert, CEO of Moberg Pharma AB.
For additional information contact:
Peter Wolpert, CEO, Telephone: +46 (0)70 - 735 7135, E-mail: peter.wolpert@mobergpharma.se
Kjell Rensfeldt, VP R&D, Telephone: +46 (0)70 - 712 45 32, E-mail: kjell.rensfeldt@mobergpharma.se
About Oral Mucositis and BUPI
Oral mucositis (“OM)” is a painful inflammation and ulceration of the mucous membranes lining the mouth. OM is a common and often debilitating complication of cancer treatment which affects 80% of patients with head and neck cancer receiving radiotherapy, almost all patients undergoing bone marrow transplantation, and a wide range of patients receiving chemotherapy. OM makes the patient less likely to comply with their cancer treatment, increases mortality and morbidity and contributes to rising health care costs. In the U.S., every year approximately 400 000 patients suffer from OM during cancer therapy.
The BUPI technology encompasses novel lozenge formulations of bupivacaine, a local anesthetic with a well-established long acting effect, currently available on the market for other indications as an injectable. A BUPI lozenge is currently investigated in an ongoing clinical phase II study.
About this information
Moberg Pharma discloses this information pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 11:00am (CET) on June 24, 2015.
About Moberg Pharma
Moberg Pharma AB (publ) is a rapidly growing Swedish pharmaceutical company with OTC sales operations in the U.S. and a distributor network in more than 40 countries. The company’s portfolio includes the OTC brands Kerasal®, Kerasal Nail®, Balmex, Domeboro®, Jointflex®, Vanquish®, and Fergon®. Kerasal Nail® (Emtrix® or Nalox™ in certain markets) is a leading OTC treatment of nail disorders in the U.S., Canada and several EU markets and is currently being launched in Southeast Asia. The company is growing organically as well as through acquisitions. Internal development programs focuses on innovative drug delivery of proven compounds and include two phase II assets, MOB-015 (onychomycosis) and BUPI (oral mucositis). Moberg Pharma has offices in Stockholm and New Jersey and the company’s shares are listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm (OMX: MOB). For further information, please visit: www.mobergpharma.com.
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