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news.Genfit will receive EUR1.2m for the development of new drug candidates, as part of the EuroTransBio funding initiative.
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The new funding follows the positive results demonstrated during the OLNORME (Occurrence of novel Ligands for a Nuclear Orphan Receptor in plant Metabolites) programme, initiated in 2006.
During the programme, Genfit and its partner Bicoll have identified the first active and confirmed hits for an orphan nuclear receptor with anti-inflammatory properties.
Based on the positive results, the national French and German agencies in charge of the EuroTransBio initiative are funding a new partnership programme, OLNORME II, between the two companies.
With the combination of Bicoll’s expertise in natural product chemistry, the three-year programme will enable Genfit to generate new drug candidates.
The subsequent development of such products, including Phase I and II clinical trials will be taken up by Genfit, who will own all property rights.
Genfit CSO Dean Hum said the initial collaboration with BICOLL enabled Genfit to make significant progress in the internal research programme TGFTX1, through the identification of natural products that are active on a previously orphan nuclear receptor.
"Based on these natural products, we are now ready to develop a new class of innovative compounds with a high potential in a wide therapeutic arena, in particular that of metabolic diseases with a strong inflammatory component such as atherosclerosis, type II diabetes, and obesity," Hum said.