PARIS & COPENHAGEN, Denmark--(BUSINESS WIRE)--Regulatory News:
Onxeo S.A. (Paris:ONXEO) (NASDAQ OMX:ONXEO) (Euronext Paris, NASDAQ OMX Copenhagen: ONXEO), an innovative biopharmaceutical company specialized in the development of orphan oncology drugs, today announces the second payment of €1.25 million from BPIFrance (ex OSEO) as a part of the funding granted to support the NICE (Nano Innovation for Cancer) consortium.
NICE is the first consortium of nanomedicine stakeholders in France focused on characterization and industrialization of processes specific to nanodrugs. Consisting in five public and private partners and led by Onxeo, it includes parties with deep expertise in the field of nanomedicine and aims at building a platform to accelerate the development and industrialization of nanomedicine.
In July 2013, BPIFrance granted the NICE consortium with a funding of almost €9 million, including €4.3 million dedicated to the industrial development of Livatag® (doxorubicin Transdrug™), to be paid upon 5 years. Today, the company received the second payment of €1.25 million based on Livatag® program advancements, achieved according to plan.
Livatag®, a doxorubicin nanoparticle, is one of the most promising programs of Onxeo’s Orphan Oncology portfolio. Developed for the treatment of primary liver cancer, which represents a high medical unmet need, Livatag® is currently in phase III and the company expects to complete the study in 2016.
*About NICE consortium
In addition to Onxeo, the consortium includes Nanobiotix, developer of NBTXR3, a potentiator of radiation therapy in the local treatment of cancer; CEA-Leti, developer of the Lipidots® platform that uses lipid nanoparticles; DBI, a company specializing in the production of nanomedicine pharmaceutical products and Institut Galien Paris Sud (University Paris Sud/CNRS), which has an academic-excellence team specializing in nanoparticle research.
Onxeo has the vision to become a global leader and pioneer in oncology, with a focus on orphan or rare cancers, through developing innovative therapeutic alternatives to “make the difference”. The Onxeo teams are determined to develop innovative medicines to provide patients with hope and significantly improve their lives.
Key products at advanced development stage are:
Livatag® (Doxorubicin Transdrug™): Phase III in hepatocellular carcinoma
Validive® (Clonidine Lauriad®): Phase II in severe oral mucositis
Beleodaq® (belinostat): Registered and available in the USA for peripheral T-cell lymphoma
For more information, visit the website www.onxeo.com
This communication expressly or implicitly contains certain forward-looking statements concerning Onxeo and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Onxeo to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Onxeo is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. For a discussion of risks and uncertainties which could cause actual results, financial condition, performance or achievements of Onxeo to differ from those contained in the forward-looking statements, please refer to the Risk Factors ("Facteurs de Risque") section of the 2013 Reference Document filed with the AMF on April 7, 2014, which is available on the AMF website (http://www.amf-france.org) or on the company’s website (www.onxeo.com).