Prenumeration
Beskrivning
| Land | Finland |
|---|---|
| Lista | First North Finland |
| Sektor | Hälsovård |
| Industri | Läkemedel & Handel |
Press release
Herantis Pharma Plc, Press release, 18 June 2024 at 15:30 a.m EEST
Herantis Pharma receives milestone payment of EUR 750,000 from European Innovation Council
Herantis’ EIC Accelerator project, ReTreatPD, is progressing as planned and Herantis will receive a milestone payment of EUR 750,000.
Herantis Pharma Plc (“Herantis”), a clinical-stage biotechnology company developing disease-modifying therapies for Parkinson’s disease is pleased to announce that European Innovation Council (EIC) will pay the predefined milestone payment for the two-year grant project.
Herantis and EIC signed an EIC Accelerator agreement for EUR 2.5 million grant for the ReTreatPD project in April 2023. Herantis received prefinancing of EUR 1.4 million in May 2023.
About ReTreatPD
The two-year grant project, “Revolutionary therapeutic treatment for stopping progression of Parkinson's disease” (ReTreatPD), is focusing on preparations towards a Phase 2 clinical study with HER-096 in Parkinson’s disease including development of biomarkers for monitoring target engagement and treatment response to HER-096.
About HER-096
HER-096 is an engineered peptidomimetic molecule designed to mimic the activity of CDNF, a protein that promotes cell survival and functional recovery of neurons. HER-096 modulates the Unfolded Protein Response (UPR) pathway, the regulation of which is essential in restoring the cell protein balance (proteostasis) and preventing the processes leading to, e.g., cytotoxic protein aggregation and neuronal cell death in the brain. In addition, HER-096 alleviates inflammation in the affected brain area. Thanks to its multimodal mechanism of action, Herantis’ HER-096 has the potential to stop the progression of Parkinson’s disease and significantly improve patients’ quality of life.
About EIC Accelerator
The EIC Accelerator is a funding programme under Horizon Europe that grants funding and investments through the EIC Fund for individual start-ups and small companies to develop and scale up game-changing innovations.
More information about EIC Accelerator:
https://eic.ec.europa.eu/eic-funding-opportunities/eic-accelerator-0_en
For more information, please contact:
Tone Kvåle, CFO
Tel: +47 915 19576
Email: ir@herantis.com
Certified Advisor:
UB Corporate Finance Oy, Finland: +358 9 25 380 225
About Herantis Pharma Plc
Herantis Pharma Plc is a clinical-stage biotechnology company developing disease modifying therapies for Parkinson’s disease. Herantis’ lead product HER-096, is an advanced small synthetic chemical peptidomimetic molecule developed based on the active site of the CDNF protein. It combines the compelling mechanism of action of CDNF with the convenience of subcutaneous administration. The Phase 1a clinical trial demonstrated a good safety and tolerability profile, and efficient blood-brain barrier penetration of subcutaneously administered HER-096 in humans. The shares of Herantis are listed on the Nasdaq First North Growth Market Finland.
Company website: www.herantis.com