Paris, November 24, 2014 - NEOVACS (Alternext Paris : ALNEV), a leader in active immunotherapies for the treatment of autoimmune diseases, today announced that it has received EUR1 million in research tax credit for R&D expenses incurred in 2013, in line with Company expectations.
“The funds that we received today strengthen our financial position. They come in addition to the financing options that we have arranged, and increase our cash runway for 2015", commented Miguel Sieler, Neovacs Chief Executive Officer. “Consistent with the Company’s development plan, we will obtain and release the results of a Phase IIb study of TNF-Kinoid in Rheumatoid Arthritis before the end of the year. We also expect to launch a Phase IIb clinical trial of IFNa-Kinoid in Lupus in 2015".
The funds received today will be used to fund the clinical and pre-clinical development of Neovacs’ therapeutic vaccines portfolio.
About Neovacs
Neovacs is a biotechnology company focused on an active immunotherapy technology platform (Kinoids) with applications in autoimmune and/or inflammatory diseases. On the basis of the company’s proprietary technology for inducing a polyclonal immune response (covered by five patent families that run until at least 2026) Neovacs is focusing its development efforts on two active immunotherapies: TNF-Kinoid is being developed for the treatment of TNF-mediated autoimmune diseases such as rheumatoid arthritis and Crohn’s disease, whereas IFNa-Kinoid is being developed for the indication of lupus. The goal of the Kinoid approach is to enable patients to have access to safe treatments with efficacy that is sustained in these life-long diseases.
For more information on Neovacs, visit www.neovacs.fr
Contacts
NEOVACS
Nathalie Trépo
+33 (0)1 53 10 93 00
ntrepo@neovacs.com
Press - Financial Communications- Publicis
Stéphanie Tabouis
+33 (0) 1 44 82 46 35
stéphanie.tabouis@consultants.publicis.fr
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