RIGA, Latvia, July 19, 2016 /PRNewswire/ -- European Commission awarded Latima with a grant for cancer virotherapy medicine commercialization in the EU markets within a framework of Horizon 2020 programme "Dedicated support the biotechnology SMEs closing the gap from lab to market".
Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly 80 billion euros of funding available over 7 years (2014 to 2020) in addition to the private investment that this money will attract. It promises more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market. The Horizon 2020 program is administered by the European Commission in Brussels and can be used by participants from all over the European Union.
Latima is part of Rigvir holding, a group of companies, which develops and promotes cancer virotherapy worldwide. Latima is manufacturer of world's first approved cancer virotherapy medicine. Cancer virotherapy is a cancer treatment using a virus that finds and destroys malignant cells in the human body. This kind of cancer treatment, called also oncolytic virotherapy, is evidence based and recognised as safe and effective therapy. The first cancer virotherapy medicine was approved for melanoma treatment in 2004 by State Agency of Medicines of Latvia, EU member state. However in clinical practice it has been also used for treatment of several other malignant tumours. Study published by Melanoma research suggests that a significant number of melanoma patients would benefit from prolonging the survival with oncolytic virotherapy treatment, moreover this can be achieved without serious side effects.
Karlis Urbans, Finance director of Rigvir holding:
"There are millions of cancer patients around the world who are in need of this unique cancer medicine. At the moment Rigvir is approved in 3 countries so far, however other patients can get virotherapy with Rigvir via medical tourism. I hope that this grant will make cancer virotherapy more available for everyone who would benefit from it. Cancer patients deserve this safe, effective and humane cancer treatment."
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