The lead project Foxy-5 has now been earmarked for funding from the Eurostars program

Press release from Companies

Published: 2012-02-01 16:53:07

WntResearch AB: The lead project Foxy-5 has now been earmarked for funding from the Eurostars program

WntResearch AB (WNT.ST) announces that its lead project Foxy-5 has now been earmarked for funding within the framework of an approved Eurostars project by the relevant National Funding Bodies. This means that the Foxy-5 is now co-funded all the way from manufacturing of the drug, through confirmatory pre-clinical studies and full regulatory tox-package to clinical phase 1 study and into the first phase 2 study in cancer patients. The Company has still not got an exact amount of the support - but will inform the marked as soon as we know by the end of February 2012.

The Eurostars programme funds research and development (R&D) activities driven by Small and Medium size Entities. The EU is supporting the initiative with a €100 million grant, while an additional €300 million will come from the 27 countries which have signed up to the initiative. VD Nils Brünner comments: The funding is a financial break through for WntResearch and we are all eager to execute the strategy for the development of Foxy-5 as an anti-metastatic drug. I feel confident that with the present international Eurostars consortium, the competences of the Board of Directors and Management we have the ideal team for being successful. I acknowledge the foresight of Bert Junno, former CEO now CFO for having applied for the Eurostars funding. For further information please contact: Nils Brünner, CEO E-mail: nbr@wntresearch.com Telephone: +45 2614 4708 or Peter Buhl Jensen, Chairman of the Board E-mail: pbj@buhloncology.com Telephone: +45 2160 8922