Karo Bio has been granted another SEK 3.8 million from the Swedish innovation agency Vinnova for the preclinical development of an ERbeta agonist for the treatment of different forms of cancer.
The financing is granted through the Forska & Väx program and will be paid out in stages during 2014 and early 2015, to finance studies within Karo Bio’s project ERbeta cancer, including initiated toxicity and safety pharmacology studies.
“The grant will form an important part of Karo Bio’s financing of the preclinical development program for ERbeta cancer. It allows us to keep a high pace in our development work and also reflects the project’s attractiveness,” says Per Bengtsson, CEO of Karo Bio in a press release.
According to Karo Bio, the compound has in previous studies shown to reduce tumor size significantly in preclinical models of mesothelioma and other cancer forms with poor prognosis. Karo Bio’s cancer program targets several difficult to treat cancers, including mesothelioma.
Previously in 2014, Vinnova granted Karo Bio about SEK 1 million for these studies. In total, Karo Bio has thus been granted SEK 4.8 million for the project from Vinnova.