Hybrigenics SA has announced that it has received the second €800,000 installment of a €1.4 million loan from France’s innovation agency OSEO after the successful completion of a Phase IIa clinical study of its oral inecalcitol, a treatment in hormone-refractory prostate cancer patients.
The first payment of €600,000 was received at the signature of the contract in 2008.
“This is a highly significant grant for Hybrigenics. It shows Oseo’s confidence in our product and in our ability to successfully complete clinical trials,” said Guillaume Floch, Hybrigenics’ CFO.
The interest-free loan from OSEO must be repaid between 2012 and 2015. “This second payment will help fund further clinical development of inecalcitol.” Floch said.