Glycostem raises €5 million for clinical trials

September 2019 - Glycostem Therapeutics BV, a clinical stage and leading NK-cell company, today announced they have been awarded a €5 million loan from RVO’s Innovation Credit budget for clinical trials.This is the highest possible award a company can be given.

Troels Jordansen, CEO said “This is the second time we have applied and been awarded loan under the Innovation Credit scheme.The first was a smaller Technical programme helping to fund out closed system and GMP compliant manufacturing set-up. This programme was completed on time and budget.Our second successful application is to co-fund our pivotal clinical trials leading to product approval in ’23.

“Without funding options like Innovation Credit,small companies like Glycostem would find it difficult to fund the larger ticket budget items like pivotal trials. We are delighted to have secured this funding so we can initiate our trials and make safe, cost effective and promising immunotherapy products available for severely unmet clinical needs.” finished Troels Jordansen