Horizon 2020 Grant to Metys Pharmaceuticals overview
Metys Pharmaceuticals AG signs Phase 1 grant agreement of €50'000 from the Horizon2020 Research and Innovation Programme of the European Union to finance a feasibility study and to prepare the corresponding €2.5 million H2020 grant application, for the manufacture of MP-101 for use in future Phase 2 clinical trials.
Monday, 04 February 2019. Basel, Switzerland. Metys Pharmaceuticals AG (Metys) has today announced that the Company has signed a grant agreement with the Horizon2020 programme in the first step of a two-stage grant application to finance the manufacture of MP-101 active pharmaceutical ingredients and corresponding clinical trial supplies to be used in the conduct of future Phase 2 clinical trials. This initial Phase 1 grant will be used to study the feasibility of defining a commercially-viable manufacturing process for MP-101, the patent-pending non-racemic mixture of the dimiracetam enantiomers. The Phase 2 grant application, if granted, will provide for up to €2.5 million of funding for the project, enabling the selection of manufacturing partners; the production of the required amounts of qualified clinical trial supplies; the development of the necessary analytical methods; the protection of the corresponding intellectual properties; and the communication of the progress of the project to the public. The H2020 grant programme is intended to advance excellent science, promote industrial leadership and assist innovators attempting to tackle major societal challenges. Metys aspires to meet these objectives, and seeks to test MP-101 for the prevention of the sensory symptoms that today accompany cancer chemotherapy. These symptoms severely restrict patients' ability to complete their course of cancer-fighting chemotherapy regimens. No drug is specifically approved for this indication, and existing drugs have little or no ability to treat these symptoms. MP-101 promises to be a safe and very-well tolerated addition to the standard of care of most chemotherapy regimens, to assist patients in their fight against cancer.
About Horizon2020. This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement number 854931. Horizon2020 is a large EU-funded Research and Innovation programme, with nearly €80 billion of funding available over 7 years (2014 to 2020) made available to merge world-class science with cutting-edge entrepreneurship.
About Metys Pharmaceuticals. Metys Pharmaceuticals AG is a Basel-based start-up company founded by Michael Scherz, PhD, and financed by private investors. MP-101 is a patent-pending non-racemic mixture of the dimiracetam enantiomers. Metys have designed a cutting-edge Phase 2 clinical trial of MP-101 for prevention of the chemotherapy-induced sensory symptoms of peripheral neuropathy in patients undergoing their first course of oxaliplatin-containing cancer chemotherapy. The company's research and development plans have been discussed and agreed with the US Food and Drug Administration. Metys is seeking Series A investors to finance the Phase 2 clinical trials of MP-101.