Date prepared: 11/08/2022
Legal basis: Article 17 (1) of the Market Abuse Regulation (MAR) – inside information, time: 07:45 PM
Content of the report:
The Management Board of Celon Pharma S.A. (“Company”) wishes to announce that on November 8, 2022 it received information that the Company’s application for co-funding of a project entitled “CardioCAPS – Improving Drug Safety by Implementing Innovative Forms of Three Orally Administered Medicinal Products Used in Pharmacotherapy in Cardiovascular Diseases to Celon Pharma S.A.’s In-house Production” (“CardioCAPS – Zwiększenie bezpieczeństwa lekowego poprzez wdrożenie w produkcji własnej Celon Pharma S.A. Innowacyjnych form doustnych trzech produktów leczniczych stosowanych w farmakoterapii chorób sercowo-naczyniowych”), submitted to the competition announced by the Medical Research Agency (ABM) for developing innovative solutions in the field of new forms of medicinal products with marketing authorizations, generic drugs and biosimilar drugs (ABM/2022/4) was granted co-funding.
The total cost of the Project was estimated at PLN 19.7 million. The Company has been recommended for co-funding in the requested amount of approx. PLN 12.1 million (the amount of public funds granted).
The aim of the project is to develop new generic products in the field of cardiovascular diseases, in particular to conduct bioequivalence clinical trials and to implement a complex portfolio of three new generation anticoagulants containing three various active ingredients, in a wide range of doses each to the Company's in-house production. The project will ultimately enable the expansion of the Company’s portfolio of drugs used in treatment of cardiovascular diseases.
As early as in 2024, the product portfolio implementation, as a deliverable of the project, will allow for a significant increase of Celon Pharma’s revenue in the generics segment.
Based on the current knowledge and the conducted patent clearance study, the Company has not recognized any obstacles in commercialization of products developed in its projects.
Transfer of funds may is possible following the signing of a co-funding agreement within 30 working days from the date on which information on the competition results is communicated to the Company. The Company will announce the conclusion of the co-funding agreement in a separate current report.