Beactica, the Swedish fragment-based drug discovery company, announced that it has been awarded a SEK 3.0 million grant from the Swedish Governmental Agency for Innovation Systems (VINNOVA). The grant will be used to support the development of a new epigenetic drug for treatment of cancer.
The goal of Beactica’s project is to develop novel compounds for epigenetic regulation of various cancer forms through selective and reversible inhibition of lysine-specific histone demethylases. A growing amount of research shows that inhibitors of this enzyme class can be used for the treatment of several common cancers. In addition, these enzymes are also important in other diseases which potentially could give Beactica’s compounds wider applications.
“We are very pleased that Beactica’s epigenetic project was selected for this highly competitive grant. It validates our achievements to date and will support our excellent scientists in efficiently progressing this important cancer program over the next year,” said Dr. Per Källblad, CEO of Beactica.