XVIVO receives Horizon 2020 funding
The European Commission has selected XVIVO Perfusion’s project “Biomarkers for clinical assessment of lungs intended for transplantation” for funding through the Research and Innovation Framework Program Horizon 2020.
A total of 2,666 proposals were submitted to the first SME (Small Medium Enterprises) Instrument Calls within the European Commission´s newly established Research and Innovation Framework Program Horizon 2020. 155 projects from 21 countries were selected for funding of a phase I feasibility study. Each project receives €50,000 to perform a feasibility study and to prepare a Phase 2 application, which, if granted, may result in additional funding.
“With a success rate of 6 percent, we are pleased to have been selected in competition with many other highly qualified companies. The focus is now on reaching the targets set for phase 1 and on preparing for a clinical trial in project phase 2,” says Mrs Petra Apell, Regional Manager at XVIVO Perfusion.
The goal of the project is to identify biomarkers and medical device products that can further improve the evaluation of lungs using Ex Vivo Lung Perfusion (EVLP). Lung transplantation is the only therapeutic option for selected patients suffering from end-stage lung diseases. 80 percent of all donated lungs are not used for transplantation. The main reason is uncertainty regarding the function and quality of the lung. EVLP is a technique used to assess the quality of donated lungs prior to transplantation. EVLP could potentially lead to an increase in the utilization rate of donated lungs from today´s 20 percent to 40-60 percent. Validated and objective parameters to evaluate lung functions during EVLP are expected to improve clinical outcomes in lung transplantation after EVLP.
“We are delighted that the European Commission has decided to support this project financially. New biomarkers may lead to continued development and expansion of the organ perfusion market,” says Dr Magnus Nilsson, CEO of XVIVO Perfusion.
September 19, 2014
Gothenburg
XVIVO Perfusion AB (publ)
Magnus Nilsson
CEO
For further information please contact:
Christoffer Rosenblad, CFO, +46 31 788 21 59, christoffer.rosenblad@xvivoperfusion.com
For further information on XVIVO Perfusion’s business, please refer to the company’s website, www.xvivoperfusion.com
The information was submitted for publication on September 19, 2014 at 8:30 a.m.
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
______________________________________________________________________________________________________________________
XVIVO Perfusion AB is a medical technology company which develops solutions and systems for assessing and preserving organs outside the body and for selecting usable organs and maintaining them in optimal condition pending transplantation.
The company is headquartered in Gothenburg, Sweden, and has one office in the USA. The XVIVO share is listed on NASDAQ OMX First North and has the ticker symbol XVIVO. More information can be found on the website www.xvivoperfusion.com. The Certified Adviser is Redeye, www.redeye.se.
______________________________________________________________________________________________________________________
XVIVO Perfusion AB (publ), Box 53015, SE-400 14 Göteborg. Corporate identity number 556561-0424.
Tel: 46 31 788 21 50. Fax: 46 31 788 21 69.
E-mail: info@xvivoperfusion.com. Website: www.xvivoperfusion.com
Tags: