Investment
HRA Pharma SA of Paris, invested a further €2.5 million in its subsidiary Celogos, allowing the biotech company, which is developing cell-based therapies for muscle disorders, to advance its clinical development programme.
The lead product in Celogos’ portfolio of cell-based therapies is a treatment for urinary stress incontinence, which is currently in phase II, with results expected in early 2008.
Christian Pinset, Founder and CSO of Celogos, said the new investment underlines the confidence HRA has in its capabilities and know-how. “Celogos is now in an excellent financial position to rapidly develop its product pipeline.” HRA Pharma acquired its majority stake in Celogos in January 2006.
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