Athera Biotechnologies said future development costs of its fully human antibody PC-mAb, until proof-of-concept, will be co-funded by the European Union’s Seventh Framework Program for Research (FP7) through a collaborative research grant.
PC-mAb targets phosphorylcholine and is being developed for treatment of patients with an increased risk of atherosclerosis-related cardiovascular events and death. This includes myocardial infarction patients and patients with peripheral arterial disease undergoing vein graft surgery.
“The grant underpins the level of innovation of the PC-mAb project and will substantially contribute to the pace of future development,” said Torbjörn Bjerke, chief executive officer of Karolinska Development, which owns 65% of Athera Biotechnologies.
The $8 million grant has been provided to the CARDIMMUN consortium, consisting of Athera, Leiden University Medical Center (LUMC), Turku PET Center (Turku University), Clinical Trial Consultants (CTC) and Smerud Medical Research. The project has a total budget of nearly $10.7 million and will run for three years, focusing on preclinical activities and clinical trials aimed at demonstrating proof-of-concept. LUMC is the project coordinator and will lead the project with Athera.