Genflow Biosciences PLC Announces Receipt of Grant Funding

Rhea-AI Summary

Genflow Biosciences (LSE:GENF, OTCQB:GENFF), an emerging leader in longevity research, announced receiving €395,847, representing 50% of the Exofastrack research grant from the Government of Wallonia. This grant, a non-dilutive, non-reimbursable subsidy, will cover 80% of the expenses for a 3-year scientific program in collaboration with EXO Biologics. The program aims to develop exosome-based therapies targeting liver fibrosis (MASH) and Werner Syndrome. CEO Dr. Eric Leire expressed enthusiasm, emphasizing the potential for groundbreaking treatments in age-related disease prevention.

Positive

• Genflow Biosciences received €395,847 from the Government of Wallonia, representing 50% of the Exofastrack research grant.
• The grant is a non-dilutive, non-reimbursable subsidy, providing financial support without increasing shareholder dilution.
• The funding covers 80% of the expenses for a 3-year scientific program.
• The program targets liver fibrosis (MASH) and Werner Syndrome, potentially leading to groundbreaking treatments.
• This collaboration strengthens Genflow's position in longevity research and therapeutic solutions.

Negative

• The grant covers only 50% of the total funding required, indicating additional financial needs.
• Relying on external grants may signal insufficient internal funding or revenue generation.
• The success of the program is uncertain, with potential delays or failures in developing effective therapies.

Receipt of Grant Funding

LONDON, UK / ACCESSWIRE / June 12, 2024 / THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Genflow Biosciences Plc (LSE:GENF)(OTCQB:GENFF) ("Genflow" or "the Company") an emerging leader in the field of longevity research, focused on developing therapeutic solutions for the prevention of age-related diseases is pleased to announce receipt of €395,847 representing 50% of the Exofastrack research grant from the Government of Wallonia in Belgium's Advanced Therapy Medicinal Products (ATMPs).

The grant, a non-dilutive, non-reimbursable subsidy, supports Genflow and EXO Biologics' 3-year scientific program. Covering 80% of the expenses, the grant will be used for working capital. The program (see press release here) will deliver a therapeutic product composed of exosomes encapsulating an AAV or mRNA encoding SIRT6. The exosome therapy will be designed to target liver fibrosis (MASH) and Werner Syndrome, an accelerated aging disease.

Dr. Eric Leire, CEO of Genflow commented: "We are thrilled to receive this grant from the Government of Wallonia. This funding will significantly advance our research program focused on exosome-based therapies, potentially leading to groundbreaking treatments for liver fibrosis and Werner Syndrome. Our commitment to pioneering therapeutic solutions for longevity is further strengthened by this support, and we look forward to the impactful developments that will emerge from this collaboration."

Contacts

Genflow Biosciences	Harbor Access
Dr Eric Leire, CEO	Jonathan Paterson, Investor Relations
+32-477-495-881	+1 475 477 9401
	Jonathan.Paterson@Harbor-access.com

Joint Corporate Brokers
Clear Capital Markets	Capital Plus Partners Ltd
Bob Roberts, +44 203 869 6080	Dominic Berger, +44 203 821 6167
	Keith Swann, +44 0203 821 6169
	Jon Critchley, +44 0203 821 6168

About Genflow Biosciences
Founded in 2020, Genflow Biosciences Plc. (LSE:GENF)(OTCQB:GENFF), a biotechnology company headquartered in the UK with R&D facilities in Belgium, is pioneering gene therapies to decelerate the aging process, with the goal of promoting longer and healthier lives while mitigating the financial, emotional, and social impacts of a fast-growing aging global population. Genflow's lead compound, GF-1002, works through the delivery of a centenarian variant of the SIRT6 gene which has yielded promising preclinical results. Scheduled to begin in 2025, Genflow's clinical trial aims to explore the potential benefits of GF-1002 in treating MASH (Metabolic Dysfunction-Associated Steatohepatitis), the most prevalent chronic liver disease for which there is no effective treatments. Please visit www.genflowbio.com and follow the Company on LinkedIn and Twitter/X.

DISCLAIMER
The contents of this announcement have been prepared by, and are the sole responsibility of, the Company.

This announcement may contain forward-looking statements. The forward-looking statements include, but are not limited to, statements regarding the Company's or the Directors' expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statement that refers to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions, is a forward-looking statement. The words "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "seek", "should", "would" and similar expressions, or in each case their negatives, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current expectations and assumptions regarding the Company, the business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements are not guarantees of future performance and the Company's actual financial condition, actual results of operations and financial performance, and the development of the industries in which it operates or will operate, may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if the Company's financial condition, results of operations and the development of the industries in which it operates or will operate, are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of financial condition, results of operations or developments in subsequent periods. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global, political, economic, social, business, technological, competitive, market and regulatory conditions.

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SOURCE: Genflow Biosciences PLC

View the original press release on accesswire.com

FAQ

What recent funding did Genflow Biosciences receive?

Genflow Biosciences received €395,847 from the Government of Wallonia, representing 50% of the Exofastrack research grant.

What is the purpose of the Exofastrack research grant received by Genflow Biosciences?

The Exofastrack research grant supports a 3-year scientific program to develop exosome-based therapies targeting liver fibrosis (MASH) and Werner Syndrome.

How will Genflow Biosciences utilize the received grant?

Genflow Biosciences will use the grant to cover 80% of the expenses for their scientific program focused on exosome-based therapies.

What is the stock symbol for Genflow Biosciences?

The stock symbols for Genflow Biosciences are LSE:GENF and OTCQB:GENFF.

Who is Genflow Biosciences partnering with for the funded program?

Genflow Biosciences is collaborating with EXO Biologics for the 3-year scientific program funded by the Exofastrack research grant.