Date: 2011-11-08
Type of information: Subvention
Company: ORCA Therapeutics (The Netherlands)
Investors: Agentschap NL (The Netherlands)
Amount: € 5 million
Funding type: credit
Planned used: This credit will allow ORCA Therapeutics to take the next steps in preclinical and clinical development of its ORCA-010 product for treatment of prostate cancer patients.
Others: ORCA Therapeutics, a pioneer in the development of innovative virotherapies for treatment of cancer, has received an innovation credit of up to € 5 million from Agentschap NL, an agency executing programmes for the Dutch Ministry of Economic Affairs, Agriculture and Innovation, to support development of its lead compound ORCA-010 for prostate cancer. The innovation credit is a credit facility from Agentschap NL dedicated to highly innovative projects. Under the terms of the agreement, ORCA receives € 1,058,000 to support the initial stage of the project, with the outlook for additional funding up to € 5 Million upon successful completion of specific milestones. The credit will become repayable subject to the commercial success of the project.
Therapeutic area: Cancer - Oncology