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Fundraisings and IPOs

Date: 2013-09-24

Type of information: Grant

Company: Consortium Elimox (OxThera AB (Sweden), Cobra Biologics (UK), SymbioPharm (Germany), Ergomed Clinical Research (UK), Universitätsklinikum Bonn (Germany), Hospices Civils de Lyon, (France), University College London Hospitals NHS Foundation Trust (UK), Galenica (Sweden), K.A.B.S. Laboratories (Canada), Medizinisches Versorgumszentrum Institute für Microökologie (Germany), TNO (Netherlands) and Bio-Images Research (UK)

Investors: European Commission’s Seventh Framework Program (FP7)

Amount: €2.19 million

Funding type: grant

Planned used:

to develop a bacterial pharmaceutical product for the treatment of primary hyperoxaluria.

Others:

* On September 24, 2013, OxThera has announced that it is the coordinator of a new EU-project, Elimox, that will run for 2 years and has been provided an FP7 grant of €2.19 million. The primary aim of the project is to develop an innovative and unique bacterial pharmaceutical product for the treatment of a severe and debilitating inherited disease; Primary Hyperoxaluria (PH). The Elimox project will perform bacterial drug development, analytical methods development and clinical development for PH. The bacteria, Oxalobacter formigenes, has been shown to actively promote enteric elimination of oxalate in animal models (Hatch, 2011 and 2013). Early exploratory clinical studies evaluating an initial formulation of the bacteria showed a substantial decrease in urinary oxalate excretion in subjects with PH (Hoppe, 2006).

Therapeutic area: Rare diseases - Kidney diseases - Renal diseases

Is general: Yes