Press release from Companies
Publicerat: 2018-05-03 08:52:31
RhoVac AB ("RhoVac") announced today, 3rd May 2018, that the company has been awarded the European Commission grant under the EU's research and innovation programme Horizon 2020, with significant appraisal score of "Very good to Excellent".
Horizon 2020 EU funding supports Small and Medium-sized Enterprises (SME) with breakthrough innovation projects and a market-creating potential. The highly competitive fund is only offered to SMEs which fall under European Innovation Council’s (EIC) SME definition. The fund is part of the Horizon 2020 work programme 2018-2020, funding high-potential innovations in the EU. The fund offers Europe's brightest and boldest innovators the funding for breakthrough ideas with the potential to create entirely new markets or revolutionise existing ones. The round of applications in February 2018, has been highly competitive with success rate of 12.6% among 2009 submitted proposals. RhoVac is pleased to announce that company’s RV001 cancer vaccine project, currently in clinical phase I/II focusing on patients with diagnosed prostate cancer, has been awarded the phase I grant. RhoVac has received a significant total score of 13.80 out of 15, which indicates “Very good to Excellent” in the appraisal scale. Company’s application has received excellent scores for major sub-criterions, such as (but not limited to): The SME instrument will boost fast company growth and market-creating innovation thanks to staged funding and ramped up business acceleration services. Following completion of this phase I, RhoVac is preparing to apply for phase II of the Horizon 2020 grant to be submitted in Q4 2018. Comments from RhoVac´s CEO, Anders Ljungqvist -We are delighted to receive this €50,000 grant from the European Commission, but what is most important and rewarding is to see the rating that we are acknowledged for: our innovative approach, our understanding of patient’s need and the high quality in RhoVac’s project management. This rating is highly motivating for us in our continuing effort to further develop the RV001 project. This grant will be funded to prepare a feasibility report, as a requirement by European Commission, which will then be the basis for the upcoming phase II application within the program framework.