2cureX receives first payment of EUR 1,5 million from EU Horizon 2020
March 13, 2018
2cureX AB (“2cureX”) today announces that the company has received the first payment of an awarded grant comprising EUR 3 million from the EU’s Horizon 2020 SME Program. The grant is given to finalize the clinical validation of the company’s IndiTreat® product and to initiate market launch.
As previously communicated (January 2018), 2cureX and the EU agreed on the final terms of a Horizon 2020 SME Instrument grant that in total will provide EUR 3 million (SEK 29 million). The first payment of the grant has now been received by 2cureX. The grant is supporting 2cureX’s clinical validation trial in metastatic colorectal cancer and the subsequent launch of the associated IndiTreat® product.
“Always nice to see money in the bank”, states the CEO of 2cureX, Ole Thastrup, and he continues “We have previously obtained grants from the EU; but the conditions of the Horizon 2020 SME Instrument grant are simply outstanding. In discussions with the EU in February and March, we have been met with a high degree of flexibility and a clear interest in supporting 2cureX to become a success. It is clear that this grant provides more than financial means”.
In parallel to the clinical validation, 2cureX has initiated the preparation for market launch in 2020.
2cureX’s Chief Business Officer, Maarten van der Linden says “In the preparation for the EU grant we did a thorough job in outlining the strategy and planning in order to successfully launch IndiTreat® in our key markets by 2020. We’re highly committed to deliver on our strategic commitments to build the organizational structure that will take us to market-launch. Therefore, it is a great support to see that the first instalment of the EU grant came in”
Sedermera Fondkommission is the Certified Adviser of 2cureX.
For more information about 2cureX:
Ole Thastrup, CEO;
Phone: +45 22 11 53 99;
2cureX has developed IndiTreat® (Individual Treatment Design) – a patented method for selecting the right drug for the right patient, thereby improving cancer treatment. Initially, IndiTreat® is targeted towards colorectal cancer; but the method is applicable to additional cancer indications (e.g. ovarian, breast and kidney cancer). The company is listed at the Nasdaq First North stock exchange in Stockholm (symbol “2CUREX”).