Development grant
Newron Pharmaceuticals SpA has been awarded a grant-come-loan of €5 million from the Italian government’s Ministero dell’ Istruzione, dell' Università e della Ricerca, to support the research and identification of novel compounds for the treatment of central nervous system diseases. The funds cover R&D expenses incurred during a 48-month period from July 1, 2007 and training costs for a 36-month period from 1 January 2008.
About 42 per cent of the grant will be non-reimbursable. The rest, bearing interest of 0.5 per cent per year, is required to be repaid within 10 years from the grant date.
Patricia Salvati, Newron’s VP Preclinical R&D, said, “We are proud that we have succeeded again in qualifying for significant public funding for our R&D efforts. This re-affirms the high quality of our ion channel research, as evidenced by the continuing success of our development compounds.”
Receive the Funding Newswire each Tuesday, our Policy Bulletin each Thursday, and news about bridging Europe’s east-west innovation gap twice a month in The Widening. 
Follow where the public and private R&I money is going and which collaborative opportunities you can pursue.
