Funding
Photocure AS has been awarded NOK 4.3 million (€0.49 million) over 3 years by the Norwegian Research Council. The money was awarded through the BIA programme, which supports innovative projects that create value for both the company and society.
Photocure received funding for its Cevira project to develop a drug and light source for photodynamic therapy of precancerous lesions of the cervix. The company will develop a treatment of abnormal cervical cells caused by persistent human papilloma virus infection These cellular abnormalities may develop into cervical cancer if not treated in time.
The current surgical therapy increases the risk of bleeding, infections and preterm labour in later pregnancies. These problems are avoided with photodynamic therapy (PDT), which involves activating chemotherapy from an inactive to an active form using laser light.
The BIA funding will be used to develop a patented combination product that will simplify the PDT procedure significantly.
Kjetil Hestdal, President and CEO of Photocure said, “The support gives financial backing in a critical phase of the Cevira project. The BIA programme is important for innovative projects like Cevira, with a high market potential, to succeed. We are pleased that [the Norwegian Research Council] shares our view that photodynamic therapy is an important part of medical technology for the future."
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