Current Report No. 7/2025 – Execution of agreements on support for two Celon Pharma S.A. projects under the National Recovery and Resilience PlanLegal basis:

Subject: Execution of agreements on support for two Celon Pharma S.A. projects under the National Recovery and Resilience Plan
Legal basis: Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation – MAR) – inside information
Date and time of disclosure: 29 April 2025, 15:29 CET

Report content:

With reference to Current Report No. 2/2025 of 6 February 2025 concerning the qualification of three projects of Celon Pharma S.A. (the “Company”, the “Beneficiary”) for co-financing under the call for proposals announced by the Medical Research Agency (the “Agency”) for entrepreneurs to conduct research in the field of drug safety, innovative therapies and medicines of the future, implemented under the National Recovery and Resilience Plan (Competition No. 2024/ABM/05/KPO), the Management Board of the Company announces that on 29 April 2025 it received copies of the agreements duly signed by both parties between the Company and the Agency (the “Agreements”) concerning the granting of support for the following projects:

  1. Highly purified next-generation GLP-1 analogue with reduced immunogenicity risk;
  2. Development of manufacturing technology and preclinical safety assessment of an innovative conjugate with immunomodulatory and cytotoxic activity as a new anticancer drug candidate (KONGO 2.0).

The total eligible cost of the project “Highly purified GLP-1 analogue (…)” amounts to PLN 17.97 million. The Agency awarded the Beneficiary co-financing of up to PLN 10.69 million, representing 59.52% of total eligible costs.

The total eligible cost of the project KONGO 2.0 amounts to PLN 17.41 million. The Agency awarded the Beneficiary co-financing of up to PLN 11.26 million, representing 64.64% of total eligible costs.

Under the terms of the Agreements, the Agency granted the Beneficiary funding for the conduct of industrial research and experimental development activities (within the meaning of Commission Regulation (EU) No. 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, OJ EU L 187/1 of 26 June 2014, as amended). The co-financing will be provided in the form of a one-off advance payment and reimbursement disbursed in tranches.

Both projects are scheduled for completion by the end of March 2026.

The Agreements stipulate, in particular, that all proprietary copyrights, related rights, derivative rights to works created under the projects, rights to databases used in the projects (including those not qualifying as works), as well as rights to inventions, utility models, industrial designs, and rights to the results of scientific research or development work resulting from the projects, must remain vested in the Beneficiary.

Information on the objectives and significance of the projects was provided by the Company in Current Report No. 2/2025.

Furthermore, the Company informs that, as of the publication date of this current report, the agreement on support for the third project qualified for co-financing, referred to in Current Report No. 2/2025 (SimOn), has not yet been executed. The Company will report the execution of this agreement by way of a separate current report.