AbilityPharma awarded €5 million from the Horizon Europe EIC Accelerator Program

Ability Pharma capta 2,5 milions d'euros a través del Banc Europeu d'Inversions

The biopharmaceutical company Ability Pharmaceuticals, a member of the UAB Research Park, has been awarded €5 million blended financing from the Horizon Europe, European Innovation Council (EIC) Accelerator Pilot Program. The grant will fund a phase 2b clinical trial in advanced pancreatic cancer patients to investigate ABTL0812 in combination with the standard-of-care chemotherapy.

23/03/2020

The EIC Accelerator (former SME Instrument) is a program of the European Commission offering funding, coaching and business acceleration services to innovative small or medium-sized businesses. In this second call of the program, only 2,4% of applications submitted have been funded.

The program provides grant-only support as well as support in the form of blended finance (combining grant and equity). In fact, for AbilityPharma, received ca. 2,5M € as grant, and ca. 2,5M € as equity and managed by the European Investment Bank.

AbilityPharma’s objectives for this project are to conduct a phase 2 multicenter double-blind placebo controlled clinical trial in pancreatic cancer to investigate ABTL0812 in combination with the FOLFIRINOX. It will include leading centers in Spain, France, Israel and other European countries. After finishing the clinical trial, a partnership (licensing deal) with a big pharma partner will be stablished to further develop ABTL0812 to make it available to pancreatic cancer patients.