Creabilis Awarded Prestigious European Commission FP7 Grant to Further Develop its LSE 'Topical-by-Design' Technology
LUXEMBOURG, April 23, 2013 /PRNewswire/ --
Creabilis SA, a late clinical stage European biotechnology company specialising in the development of treatments in dermatology, for inflammation and pain, today announces that it has been awarded a prestigious European Union Framework Programme 7 (FP7) grant in the 'Health: Systems Medicine' work programme theme. The €1.98m FP7 grant will be used to develop the next generation of Creabilis' 'topical-by-design' pre-clinical candidates to complement its existing clinical portfolio. The candidates will be developed using Creabilis' proprietary Low Systemic Exposure (LSE) technology.
Creabilis' LSE technology creates novel drugs that combine high efficacy with a favourable safety profile to be delivered topically. LSE generates innovative molecules with unique physico-chemical and pharmacological characteristics, combining high local concentration with low systemic absorption. This technology has already been clinically validated through CT327, Creabilis' lead compound that is currently in late stage clinical development for diseases of dermatology.
FP7 is the European Union's main instrument for supporting innovative research in Europe, and has two main strategic objectives:
- to strengthen the scientific and technological base of European industry
- to encourage its international competitiveness, while promoting research that supports EU policies
The FP7 grant has been awarded on the basis of a highly competitive, two-stage, peer-review process, and the award is a validation of our LSE technology.
Creabilis will be leading a pan-European consortium to help develop the next generation of LSE candidates using a novel systems biology and network pharmacology approach. The FP7 project combines Creabilis' experience and expertise with that of Serichim in Italy, TNO and TNO-Triskelion in the Netherlands, and Professor Andrew Hopkins from the University of Dundee in the UK.
This combined experience and expertise of this high quality consortium will help to generate and bring to preclinical development the next generation of Creabilis molecules optimised for topical treatment of inflammatory and neuroinflammatory diseases.
Dr Eliot Forster, CEO of Creabilis, said: "Creabilis is proud to have been one of the select companies to receive this prestigious award, and it is delightful to have won additional funding to further advance our LSE technology and the work of our scientific team in Italy. We very much look forward to working with the excellent members of the consortium to deliver this project and I am grateful for the support of the EU in this endeavour."
Dr Silvio Traversa, CSO of Creabilis and FP7 Project Coordinator, said: "Over the last eight years we have seen our LSE technology mature and deliver valuable products that are progressing through clinical development in disease areas of significant unmet medical need. This FP7 grant recognises the potential of LSE technology, and the value of our accomplishments in guiding research to achieve clinical stage assets. It is another important validation of the work of our scientific team here in Italy and Creabilis' approach as a whole."
About Creabilis SA
Creabilis is a clinical-stage European biotechnology company creating innovative new drugs to tackle unmet medical needs in dermatology, inflammation and pain. Bringing together world class drug development capabilities and a rich scientific heritage, Creabilis is uniquely positioned to transform the treatment of its target diseases.
Creabilis' lead product is CT327, a novel topically applied TrkA kinase inhibitor developed using the Company's Low Systemic Exposure (LSE) technology. CT327 is currently in late stage clinical development for diseases of dermatology. CT340 is a potent kinase inhibitor under development for the treatment of pain.
Creabilis is backed by some of the most highly respected life sciences investors including Sofinnova Partners, Neomed and Abbott Biotech Ventures, Inc (now AbbVie Biotech Ventures).
Creabilis FP7 Project - Further Information
The full title of the FP7 project is 'LSE-LSE technology approach to generate innovative kinase inhibitor drugs'. The project number is 305272.
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SOURCE Creabilis SA