Milestone
Immunotherapy specialist Neovacs has been awarded a €963,000 milestone from the French innovation body OSEO for the Tracker rheumatoid arthritis project.
The payment was made following presentation of the results of the first phase of the project, which began in 2008 under which OSEO is supporting the development of Neovacs’ drug candidate TNF-Kinoïd.
“We are delighted to have received the payment from OSEO. It rewards the good progress made in the development of TNF-Kinoïd to treat patients suffering from rheumatoid arthritis who have developed resistance to the current treatments with TNF antibodies,” said Guy-Charles de La Horie, CEO of Neovacs.
The aim of the Tracker project is to develop a global therapeutic strategy for patients with rheumatoid arthritis. The most effective drugs currently available, anti-TNF monoclonal antibodies, rapidly induce antibodies that neutralise the effect of the drug over time.
The antibodies lead to resistance and/or intolerance to the treatment, which subsequently becomes ineffective and/or toxic.
In seven major pharmaceutical markets, the number of patients it is estimated will develop resistance by 2014 is 200,000. The primary objective of Tracker is to validate the diagnostic tools produced by the diagnostic company Biomedical Diagnostics (BMD) to evaluate these neutralising antibodies and to test the therapeutic solution developed by Neovacs involving active anti-TNF immunisation.
The OSEO funding totals €7.9 million, of which €6.4 million is designated to Neovacs.
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