Hybrigenics said that the transaction follows the successful completion of Phase IIa clinical tolerance study of oral inecalcitol in hormone-refractory prostate cancer patients.
The first payment of EUR600,000 was received at the signature of the contract.
Hybrigenics CFO Guillaume Floch said that this is a significant grant for Hybrigenics and shows Oseo’s confidence in their product and in the ability to successfully complete clinical trials.
"The total EUR1.4m will be reimbursed between 2012 and 2015 and this final payment will help fund further clinical development of inecalcitol," Floch said.