Genflow Secures Non-Dilutive Financial Support
Genflow, an emerging leader in longevity research, announced it has secured €4,026,525 in non-dilutive financial support from the Wallonia region for the development of its lead gene therapy, GF-1002, aimed at treating Metabolic Associated Steatohepatitis (MASH). The support includes a €1,218,349.44 non-reimbursable research grant covering 70% of research costs and a €2,808,175.92 recoverable advance, repayable upon commercialization, funding 55% of development costs. This funding is expected to cover three years of development, with the first installment to be received as working capital. This milestone will accelerate GF-1002's clinical progress, addressing a condition with treatment options. Dr. Eric Leire, CEO, expressed gratitude for the Wallonia region's support, emphasizing its validation of Genflow's innovative gene therapy work. Further updates on GF-1002's progress will be shared in due course.
Genflow, un leader emergente nella ricerca sulla longevità, ha annunciato di aver ottenuto €4.026.525 in supporto finanziario non diluitivo dalla regione della Wallonia per lo sviluppo della sua principale terapia genica, GF-1002, destinata al trattamento della Steatoepatite Metabolica Associata (MASH). Il supporto include una concessione di ricerca non rimborsabile di €1.218.349,44 che copre il 70% dei costi di ricerca e un anticipo recuperabile di €2.808.175,92, rimborsabile al momento della commercializzazione, che finanzia il 55% dei costi di sviluppo. Questo finanziamento è destinato a coprire tre anni di sviluppo, con la prima rata da ricevere come capitale circolante. Questo traguardo accelererà il progresso clinico di GF-1002, affrontando una condizione con opzioni di trattamento limitate. Il Dr. Eric Leire, CEO, ha espresso gratitudine per il supporto della regione della Wallonia, sottolineando la sua validazione del lavoro innovativo di terapia genica di Genflow. Ulteriori aggiornamenti sul progresso di GF-1002 saranno condivisi a tempo debito.
Genflow, un líder emergente en la investigación sobre longevidad, anunció que ha asegurado €4.026.525 en apoyo financiero no dilutivo de la región de Valonia para el desarrollo de su terapia génica principal, GF-1002, destinada a tratar la Esteatohepatitis Metabólica Asociada (MASH). El apoyo incluye una subvención de investigación no reembolsable de €1.218.349,44 que cubre el 70% de los costos de investigación y un anticipo recuperable de €2.808.175,92, reembolsable al momento de la comercialización, que financia el 55% de los costos de desarrollo. Se espera que este financiamiento cubra tres años de desarrollo, con el primer pago a recibir como capital de trabajo. Este hito acelerará el progreso clínico de GF-1002, abordando una condición con opciones de tratamiento limitadas. El Dr. Eric Leire, CEO, expresó su agradecimiento por el apoyo de la región de Valonia, enfatizando su validación del trabajo innovador de terapia génica de Genflow. Se compartirán más actualizaciones sobre el progreso de GF-1002 a su debido tiempo.
Genflow, 장수 연구의 신흥 리더,가 발효된 재정 지원인 €4,026,525를 월로니아 지역으로부터 확보했다고 발표했습니다. 이 지원은 대사 관련 지방간염(MASH) 치료를 목표로 하는 주요 유전자 요법 GF-1002의 개발에 사용됩니다. 지원은 70%의 연구 비용을 커버하는 €1,218,349.44의 비환급 연구 보조금과 상업화 시 상환 가능한 €2,808,175.92의 회수 가능한 선불을 포함하고 있으며, 이는 개발 비용의 55%를 지원합니다. 이 자금은 3년 간의 개발 비용을 충당할 것으로 예상되며, 첫 번째 분할금은 운영 자본으로 수령할 예정입니다. 이 이정표는 GF-1002의 임상 진행을 가속화하여 치료 옵션이 제한된 질병을 해결하는 데 기여할 것입니다. 에릭 레이어(Dr. Eric Leire) CEO는 월로니아 지역의 지원에 감사를 표하며, Genflow의 혁신적인 유전자 요법 작업에 대한 확증을 강조했습니다. GF-1002의 진행 상황에 대한 추가 정보는 적시에 제공될 예정입니다.
Genflow, un leader émergent dans la recherche sur la longévité, a annoncé avoir obtenu €4.026.525 en soutien financier non dilutif de la région de Wallonie pour le développement de sa thérapie génique principale, GF-1002, destinée à traiter la Stéatohépatite Métabolique Associée (MASH). Le soutien comprend une subvention de recherche non remboursable de €1.218.349,44 qui couvre 70% des coûts de recherche et une avance récupérable de €2.808.175,92, remboursable lors de la commercialisation, finançant 55% des coûts de développement. Ce financement devrait couvrir trois ans de développement, avec la première tranche à recevoir comme capital de travail. Ce jalon accélérera les progrès cliniques de GF-1002, en s'attaquant à une condition avec des options de traitement limitées. Dr. Eric Leire, PDG, a exprimé sa gratitude pour le soutien de la région de Wallonie, soulignant sa validation du travail innovant de thérapie génique de Genflow. D'autres mises à jour sur les progrès de GF-1002 seront partagées en temps utile.
Genflow, ein aufstrebender Führer in der Langlebigkeitsforschung, gab bekannt, dass es €4.026.525 an nicht verwässernder finanzieller Unterstützung von der Region Wallonien für die Entwicklung seiner Hauptgen-Therapie GF-1002, die auf die Behandlung von Metabolisch assoziierter Steatohepatitis (MASH) abzielt, gesichert hat. Die Unterstützung umfasst einen nicht rückzahlbaren Forschung Zuschuss in Höhe von €1.218.349,44, der 70% der Forschungskosten deckt, sowie einen rückzahlbaren Vorschuss in Höhe von €2.808.175,92, der bei der Kommerzialisierung zurückgezahlt werden muss und 55% der Entwicklungskosten finanziert. Diese Finanzierung wird voraussichtlich drei Jahre Entwicklungszeit abdecken, wobei die erste Auszahlung als Betriebskapital erhalten wird. Dieser Meilenstein wird den klinischen Fortschritt von GF-1002 beschleunigen und eine Erkrankung mit begrenzten Behandlungsoptionen angehen. Dr. Eric Leire, CEO, äußerte Dankbarkeit für die Unterstützung der Region Wallonien und betonte deren Bestätigung der innovativen Gen-Therapiearbeiten von Genflow. Weitere Updates zum Fortschritt von GF-1002 werden zu gegebener Zeit veröffentlicht.
- Secured €4,026,525 in non-dilutive financial support.
- €1,218,349.44 non-reimbursable research grant covers 70% of research costs.
- €2,808,175.92 recoverable advance funds 55% of development costs.
- Funding expected to cover three years of GF-1002 development.
- First installment to be received as working capital.
- Accelerates clinical progress of GF-1002 for treating MASH.
- None.
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 Secures €4 Million Non-Dilutive Financial Support from Wallonia Region for GF-1002 Development
LONDON, UK / ACCESSWIRE / October 22, 2024 / 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 today that it has received official confirmation of €4,026,525 in non-dilutive financial support from the Wallonia region. The funds will support the ongoing development of Genflow's lead gene therapy, GF-1002, for the treatment of Metabolic Associated Steatohepatitis (MASH), a severe and progressive liver disease.
The financial support comprises a €1,218,349.44 non-reimbursable research grant, covering
The securing of such funding marks a significant milestone for Genflow and will enable the Company to accelerate the clinical progress of GF-1002, which represents a novel approach to treating MASH, a condition with limited treatment options. The Wallonia region's financial support highlights the growing recognition of Genflow's innovative work in gene therapy.
Dr. Eric Leire, CEO of Genflow, commented: "We are delighted to receive this substantial financial backing from the Wallonia region as it is an important validation of our research and development efforts. It will allow us to further the development of GF-1002 and strengthen our position at the forefront of gene therapy innovation for MASH treatment. We would like to sincerely thank the Wallonia region for its support."
Further updates on the progress of GF-1002 will be provided in due course.
Contacts
Genflow Biosciences | Harbor Access |
Dr Eric Leire, CEO | Jonathan Paterson, Investor Relations |
+32-477-495-881 | +1 475 477 9401 |
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Corporate Brokers |
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Capital Plus Partners Ltd | |
Keith Swann, +44 0203 821 6169 | |
Jon Critchley, +44 0203 821 6168 |
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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. Genflow's development program is exploring 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.
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SOURCE: Genflow Biosciences PLC
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FAQ
What financial support did Genflow secure for GF-1002's development?
How much of Genflow's research costs are covered by the grant?
What is the recoverable advance amount and its purpose?
How long will the secured funding cover GF-1002's development?
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