Date: 2014-07-01
Type of information: Grant
Company: Karo Bio (Sweden)
Investors: Vinnova, Swedish Governmental Agency for Innovation Systems (Sweden)
Amount: SEK 3.8 million (€0.4 million)
Funding type: grant
Planned used: The grant will be used for the preclinical development of an ERbeta agonist for the treatment of different forms of cancer. The compound has in previous studies shown to reduce tumor size significantly in preclinical models of mesothelioma and other cancer forms with poor prognosis. Karo Bio’s cancer program targets several difficult to treat cancers, including mesothelioma.
Others: * On July 1, 2014, Karo Bio has been awarded another SEK 3.8 million from Vinnova for the preclinical development of an ERbeta agonist for the treatment of different forms of cancer. In total, Karo Bio has thus been granted SEK 4.8 million for the project from Vinnova. The financing is granted through the Forska & Väx program and will be paid out in stages during 2014 and early 2015, to finance studies within Karo Bio’s project ERbeta cancer, including initiated toxicity and safety pharmacology studies. Previously in 2014, Vinnova granted Karo Bio about SEK 1 million for these studies.
Therapeutic area: Cancer - Oncology
