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Fundraisings and IPOs

Date: 2016-12-21

Type of information: Grant

Company: Oryzon Genomics (Spain)

Investors: Ministry of Economy and Competitiveness, Government of Spain, FEDER Funds

Amount: $ 0.8 million

Funding type: grant

Planned used:

The grant (RTC-2016-4955-1) will cover the partial funding of a project entitled “Epigenetic regulation of
the inflammatory response” that is currently being carried out under the leadership of Oryzon in collaboration with academic institutions such as the Cajal Institute (National Spanish Research Council, CSIC, Madrid), the López Neira Institute (CSIC, Granada), Bosch i Gimpera Foundation (University of Barcelona) and the Autonomous University of Barcelona. The project has a 33 month duration, starting April 1, 2016 and ending December 31, 2018, and the aggregated budget of the project is approximately $ 1.3 million. Carlos Buesa, President and Chief Executive Officer of Oryzon, commented: “This private-public consortium will set up useful tools and approaches to assess the therapeutic potential of LSD1 inhibitors and other epigenetic modulators in inflammatory and autoimmune diseases, a field that Oryzon is already exploring with ORY-2001, its first in class epigenetic program in Multiple Sclerosis. ORY-2001 is expected to finish Phase I in the next months”

Others:

* On December 21, 2016, Oryzon Genomics announced that the Company will receive a new grant in the form of a loan with interest rate granted, from the Ministry of Economy and Competitiveness, Government of Spain and FEDER Funds from the European Union and included under the RETOS Collaboration 2016 program. Oryzon will receive approximately $ 0.8 million (multiyear disbursements) for further development of its project entitled “Epigenetic regulation of the inflammatory response”.  This project is being carried out in
collaboration with several spanish academic institutions. These public institutions will receive a non reimbursable grant to develop different activities to assess the potential of Oryzon’s drugs on inflammatory diseases for a total
amount exceeding $ 0.4 million.

Therapeutic area: Inflammatory diseases

Is general: Yes