RhoVac AB has been granted 2.5 million euro from Horizon 2020
RhoVac AB ("RhoVac") announces today, 22th August 2019, that the EU Commission grants 2.5 million euro to RhoVac, from the research and innovation program Horizon 2020.
The grant from the EU framework program Horizon 2020 runs over 36 months and supports the company's further development of the RV001 project for prostate cancer treatment, as well as continued business development with the aim of reaching an agreement with a future partner. In its assessment, the Commission finds the company's development plans well thought-out and realistic. The Commission emphasizes that the RV001 project is innovative and that it can be considered a potential "game changer" for future cancer treatment.
Comments from RhoVac's CBO and Deputy CEO, Anders Månsson:
“In addition to the 2.5 million euro that the grant brings to RhoVac, this award renders our project a quality mark that will impact the continued business development very positively. This aspect probably brings an even greater value to RhoVac in the long run than the monetary grant in itself ”.
Comment from RhoVac's CEO, Anders Ljungqvist:
“We are extremely pleased and proud to have received this huge grant from the Horizon 2020 Framework Program in spite of significant competition. The Commission's recognition is very motivating for us in our continued efforts to develop the RV001 project. The fact that the EU chooses to invest in our project is an important confirmation of the potential of our drug technology, which aims to stimulate the body's own immune system to limit or prevent the proliferation of metastatic cancer cells. "
About Horizon 2020 - EU Framework Program for Research and Innovation
Horizon 2020 is the largest of the EU's research and innovation programs ever, with close to 80 billion euro in grants available over 7 years (2014 to 2020). The program promises more breakthroughs, discoveries and world news by taking good ideas from the lab to the market. The aim is to ensure that Europe produces world-leading research, removes barriers to innovation and makes it easier for the public and private sectors to work together in delivering innovation. SME Instruments are aimed at Small and Medium sized Enterprises, and allows application for funding as an independent company. For more information: https://ec.europa.eu/programmes/horizon2020/.
For more information, please contact:
Anders Ljungqvist – CEO, RhoVac AB
Phone:: +46 73-751 72 78
This information is such that RhoVac AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 22nd August 2019.
About RhoVac AB
RhoVac AB conducts research and development of immunotherapeutic drugs. The company's main focus is the development of a therapeutic cancer vaccine with the potential to prevent or limit metastasis in cancer. RhoVac’s first drug candidate has completed clinical phase I/II and clinical phase IIb development has been initiated. RhoVac has its headquarters at Medicon Village in Lund, Sweden. The research has been conducted since 2007 primarily at the University Hospital in Herlev, Denmark, by a world-class research team in its niche. RhoVac is listed on AktieTorget, Sweden, a Multilateral Trading Facility (MTF), since March 2016. The share is traded under the ticker RHOVAC. Read more at www.rhovac.com