Swedish iCellate Medical has together with the Swiss biopharmaceutical company Elthera (and consortium) received a grant of 25 MSEK from Eurostars to develop a new second generation immunotherapy drug for pancreatic and ovarian cancers.
In the evaluation process Eurostars rated iCellate’s project as the most interesting among all Swedish applicants, states the company in its press release. Across Europe it was ranked sixth out of 369 total applicants. The Swedish government agency, Vinnova, will aid Eurostars locally with both payments and follow-ups.
“We are proud that Eurostars and Vinnova acknowledge the potential of the services we offer,” says Pelle Redare, CEO of iCellate.
A companion diagnostic tool to match the right patients to their immunotherapy drug
iCellate will be a crucial partner in Elthera’s drive to bring their pharmaceutical – Elmab – to market. The Eurostars grant will further enable iCellate to deliver liquid biopsy solutions to Elthera, providing the Swiss company with a companion diagnostic tool to match the right patients to their immunotherapy drug.
The Eurostar grant-funded project is scheduled to commence in June 2020. Once the project is completed, the drug will be ready for clinical testing.
Photo of Pelle Redare, CEO, iCellate
