Subject: The National Centre for Research and Development recommended co-funding of the project dedicated to the development of a drug based on GPR40 receptor agonists in the treatment of neuropathic pain
Legal basis: Article 17 section 1 of the Market Abuse Regulation (MAR) – confidential information, time: 4:27 PM
Content of the report:
Management Board of Celon Pharma S.A. (the “Company”) wishes to announce that on January 18, 2021 it received information that the Company’s application for co-funding of the project entitled “Development and implementation into clinical trials and the company’s activities of a drug based on GPR40 receptor agonists in the treatment of neuropathic pain (GRAPPA)”, submitted to a competition under the Smart Growth Operational Programme 2014-2020, measure 1.1/submeasure 1.1.1. was recommended for co-funding by the National Centre for Research and Development. The total project cost was estimated at PLN 42.3 million and the recommended value of the co-funding is PLN 22.2 million.
Chronic pain conditions are experienced by patients suffering from physical injuries and lifestyle diseases which are increasingly prevalent. The latest scientific discoveries have confirmed that GPR40 agonists play a key role in the modification of inflammatory and neuropathic pain.
The final objective of this project is to evaluate the drug candidate in the treatment of neuropathic pain as part of phase II clinical trials.
The CPL207208 compound, also known as CPL’208, is a specific GPR40 receptor agonist. It is being developed by Celon Pharma S.A. for treatment of type 2 diabetes and diabetic neuropathies and has successfully completed phase I clinical trials.
The final amount of the co-funding may change. The Company will announce the conclusion of the co-funding agreement in a separate current report.