Telormedix Receives EU Funding07.08.2013 09:27
Telormedix SA today announced that it has raised funding from the European Eurostars Programme to coordinate an international research project involving a consortium of companies aimed at developing new formulations of one of the Company’s promising drug candidates, TMX-302, for the treatment of psoriasis.
The psoriasis anti-inflammatory treatment project, operating under the acronym PAT, will have a total budget of €1.77 M and will involve consortium partners Biopta, Midatech Biogune, Molecular Profiles and the University Hospital Zurich (USZ).
The PAT project will initially focus on developing new oral and topical formulations of TMX-302 using Midatech’s nanoparticles formulated using Molecular Profile’s technology. Both routes of administration are viewed as practicable for the treatment of psoriasis. Once a range of formulations has been developed, Biopta will screen them by using human fresh tissue in vitro assays to select the best candidates. These candidates will then be studied and compared to currently used therapies in well-established humanized animal models of psoriasis at the Department of Dermatology of the USZ.
Dr. Johanna Holldack, CEO at Telormedix, commented: “We are absolutely delighted to have secured this funding with such a world class consortium to bring TMX-302 to preclinical proof of concept. We believe that modulators of TLR-7 have a significant chance of being important new treatments for inflammatory diseases like psoriasis.”
The Eurostars Programme is the European funding and support programme specifically dedicated to stimulating international collaborative research and innovation projects of small and medium enterprises.
Telormedix, founded in October 2007 and based in Ticino, is a biopharmaceutical company focused on targeted immunity and modulation of the innate immune system for treating cancer and autoimmune diseases. The Company’s lead product, TMX-101, is currently in a Phase II clinical trial for the treatment of CIS (carcinoma in situ) in the bladder.