NovaHep wins a major EU-grant and becomes a member of the SME Champions League

Gothenburg, Sweden – June,12 2017

NovaHep is happy to announce that it has won a grant of 2 184 603,75 Euro from the Horizon 2020 SME instrument of the European Commission for its project “Personalized Tissue-Engineered Veins (P-TEV) as the first Cure for Patients with Chronic Venous Insufficiency”. This funding will support the Phase I/II clinical development of NovaHep’s lead product.

“The SME Instrument funding represents an important element on our way to the next level of development and we are very proud to have been promoted to the SME Champions league. The NovaHep team is very thankful for this reward of our rock-solid commitment and we are highly motivated to make this project a great success. This funding will facilitate our high ambitions to develop novel products that can help millions of patients with today incurable diseases.” says Dr. Petter Björquist, CEO of NovaHep.

NovaHep is a biotechnology company, located in Gothenburg, Sweden. The company generates personalized tissue-engineered transplants for use in regenerative medicine. The company’s unique technology platform turns donated allogeneic (“foreign”) tissue into an autologous (“personalized”) tissue and thus avoids transplant rejection and the need for life-long immunosuppression. Donated, allogeneic tissue is patient-individualized by a combination of DC (decellularization) and RC (reconditioning/recellularization) processes. NovaHep’s development pipeline comprises products in the areas of vascular regeneration and peripheral nerve repair.

Horizon 2020 is the biggest EU Research and Innovation program ever with nearly €80 billion of funding available over 7 years (2014 to 2020. The goal is to ensure Europe produces world-class science, removes barriers to innovation and makes it easier for the public and private sectors to work together in delivering innovation and to take great ideas from the lab to the market.

 

For more information, please contact: Petter Björquist, CEO, petter.bjorquist@novahep.com