Onxeo reaches second milestone of BPIFrance grant dedicated to Livatag® development as part of NICE Consortium
Onxeo S.A. (Euronext Paris, NASDAQ OMX Copenhagen: ONXEO), an innovative biopharmaceutical company specialized in the development of orphan oncology drugs, today announces the second payment of €1.25 million from BPIFrance (ex OSEO) as a part of the funding granted to support the NICE (Nano Innovation for Cancer) consortium.
NICE is the first consortium of nanomedicine stakeholders in France focused on characterization and industrialization of processes specific to nanodrugs. Consisting in five public and private partners and led by Onxeo, it includes parties with deep expertise in the field of nanomedicine and aims at building a platform to accelerate the development and industrialization of nanomedicine.
In July 2013, BPIFrance granted the NICE consortium with a funding of almost €9 million, including €4.3 million dedicated to the industrial development of Livatag® (doxorubicin Transdrug™), to be paid upon 5 years. Today, the company received the second payment of €1.25 million based on Livatag® program advancements, achieved according to plan.
Livatag®, a doxorubicin nanoparticle, is one of the most promising programs of Onxeo’s Orphan Oncology portfolio. Developed for the treatment of primary liver cancer, which represents a high medical unmet need, Livatag® is currently in phase III and the company expects to complete the study in 2016.
*About NICE consortium
In addition to Onxeo, the consortium includes Nanobiotix, developer of NBTXR3, a potentiator of radiation therapy in the local treatment of cancer; CEA-Leti, developer of the Lipidots® platform that uses lipid nanoparticles; DBI, a company specializing in the production of nanomedicine pharmaceutical products and Institut Galien Paris Sud (University Paris Sud/CNRS), which has an academic-excellence team specializing in nanoparticle research.