11th May 2020 16:48
(Alliance News) - Faron Pharma Oy on Monday announced the receipt of an EUR800,000 grant from Business Finland upon joining Finnish consortium Cancer IO.
The grans is to be used for conduction a "detailed, state-of-the-art characterisation of the immunological responses seen in cancer patients" during Faron's ongoing phase 1/2 Matins trial.
The trial is assessing Clevegen, Faron's cancer immunotherapy, in metastatic or inoperable solid tumours. Clevegen in intended to target lever-1 positive tumour associated macrophages - macrophages are a type of immune cell.
Under the initiative, backed by Business Finland, Faron is to "study Clevegen in combination with other ant-cancer molecules" under experimental settings alongside other members of the Cancer IO consortium.
Cancer IO, Faron explained, is a EUR10 million research and innovation product focused on cancer immunotherapy.
"Coordinated by the University of Helsinki, it integrates immuno-oncology (IO) activities at the universities of Helsinki and Turku, three Finnish university hospitals and one central hospital, eight Finnish SMEs, Finnish cancer patient organisations and nine of the largest IO-investing pharmaceutical companies operating in Finland," said Faron.
Faron Chief Executive Markku Jalkanen said: "We are very pleased to join this leading initiative, which will deepen our understanding of Clevegen's effects during the Matins trial, enable us to better characterise and understand the immune responses of patients receiving novel treatments, test different therapies in combination with Clevegen in a variety of laboratories and experimental settings, as well as possibly find new leads to take further into development."
Faron's shares ended flat at 360.00 pence in London on Monday.
By Anna Farley; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Faron Pharmaceuticals