CombiGene AB (publ) ("CombiGene", the "Company") today announces that the peptide-based pain project COZY01 receives Eurostars funding of EUR 726,435, corresponding to approximately SEK 8,7 million. The funding from Eurostars will be used to identify potential biomarkers of effect on the target protein, demonstrate efficacy of the treatment in human tissue, and develop and produce clinical trial material for the first study in humans.
COZY01 is a peptide treatment for severe chronic pain conditions. The project is being co-developed with CombiGene's Danish partner Zyneyro, which is also a partner in the Eurostars application. The treatment has shown good effects in various preclinical models. The continued development includes preclinical studies to evaluate safety and toxicology as well as to produce clinical trial material in order to obtain approval from regulatory authorities to conduct the first clinical trials in humans with COZY01.
“The fact that Eurostars, through the national authorities Vinnova in Sweden and the Innovation Fund in Denmark, chooses to invest almost SEK 8 million in our peptide-based pain project COZY01 is extremely gratifying. Projects selected for funding under Eurostars must be innovative and have a clear market orientation. Only about 30% of all applications to Eurostars are successful, which underlines the rigor and selectivity of the selection process. The Eurostars funding thus constitutes a clear stamp of quality for the COZY01 project. The grant from Eurostars will finance key parts of the continued development of COZY01 and also means that the project has received a very important external validation,” comments CombiGene's CEO Peter Ekolind.
About the pain program COZY
The COZY pain program is being developed to offer effective pain relief without the side effects that current treatments often cause. This is possible as Zyneyro’s researchers have identified a new biological mechanism of action that forms the basis for the COZY pain program. The mechanism of action was discovered by Zyneyro’s researchers while they were still at the University of Copenhagen. The program consists of two projects: a peptide treatment (short-term treatment) and a gene therapy treatment with potentially lifelong effect. The patient’s clinical picture and other factors will guide the choice of therapy, COZY01 or COZY02. The program is run jointly by CombiGene and Zyneyro and the project’s costs and future revenues are shared equally between the two companies.
About Zyneyro ApS
Zyneyro was founded by a group of researchers from the Department of Neuroscience at the University of Copenhagen and a group of entrepreneurs who together have extensive experience in all aspects of early drug development and entrepreneurship. The company’s researchers have worked for more than 15 years to understand the ability of the brain and nervous system to adapt to the influence of the surrounding environment. Zyneyro’s goal is to translate this knowledge of modulation of neuronal interaction into developing a number of drug candidates. The drug candidates included in the collaboration with CombiGene relate to the treatment of pain. Zyneyro also intends to develop other drug candidates for indications other than pain.
About Eurostars
Eurostars is part of the European Partnership for Innovative Small and Medium-sized Enterprises (SMEs), which is primarily aimed at innovative SMEs involved in international projects. It is possible to apply for funding for the development of market-oriented processes, products, and services. Through international collaboration, Eurostars provides access to new knowledge, collaborations, and opportunities to test new markets.
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