2cureX receives third payment from the EU’ Horizon 2020 SME- Instrument Program
June 25, 2020
Press Releases Regulatory
2cureX AB (“2cureX”) today announces that the company has received a third payment of EUR 596,886 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, 2cureX has in February 2018 started a project funded with a EUR 3 million grant from the EU’s Horizon 2020 SME Program. Partners in the project are cancer hospitals in Denmark, Germany, the United Kingdom and Sweden as well as the patient organization Digestive Cancers Europe (DiCE).
As part of the annual reporting process the project’s progress has now been reviewed both by representative from the European Commission (EC) as well as an external expert. All project Deliverables have been accepted and project Milestones have been achieved. Consequently, the 2nd year costs of the project (EUR 892.011) have been fully accepted by the EC and 2cureX has received the associated payment.
During the third year of the project 2cureX will continue to use the funds to execute on the multinational clinical validation of IndiTreat® in colorectal cancer as well as establishing partnerships in key European countries and initiate the market launch of IndiTreat®.
Ole Thastrup, CEO, 2cureX says: “with the positive assessment we have met another important milestone of our Horizon 2020 project. The EU-grant is based on our business strategy and supports both the clinical validation and the Early Access Program for IndiTreat®, which will be introduced to the market in the second half of 2020.”
Related news on the EU Horisont 2020 grant:
• 2cureX receives first payment of EUR 1,5 million from EU Horizon 2020 (March 13, 2018)
• 2cureX agrees on final terms concerning a EUR 3 million grant from Horizon 2020 (January 22, 2018)
For more information about 2cureX:
Ole Thastrup, Chief Executive Officer
Telephone: +45 22 11 53 99
Telephone: +46 8 121 576 90
This information is information that 2cureX AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on June 25, 2020.
2cureX has developed the IndiTreat® (Individual Treatment) test. IndiTreat® establishes thousands of 3D micro-tumors that are similar to the patient’s tumor and identifies the treatment that most effectively kills the patient’s tumor. Immediately after the test, the patient can be offered the selected treatment.
IndiTreat® is being clinically validated in clinical studies in colorectal cancer, ovarian cancer, pancreatic cancer and preventive cancer medicine. The clinical programs are conducted at major cancer hospitals in Denmark, Germany and United Kingdom.
IndiTreat® is presently being introduced into the European market through an Early Access Program.
The aspiration is that IndiTreat® becomes a standard tool in Precision Medicine for cancer patients.
The company is listed at the Nasdaq First North Growth Market in Stockholm (symbol “2CUREX”).