On October 31, 2023 The biotech company Peptomyc S.L. reported that it has been awarded €5 million blended financing from the Horizon Europe, European Innovation Council (EIC) Accelerator Program (Press release, Peptomyc, OCT 31, 2023, View Source [SID1234636549]). The grant will fund a phase 1b clinical trial in first-line metastatic pancreatic cancer patients to investigate OMO-103 in combination with standard-of-care chemotherapy.

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The EIC Accelerator program is a highly competitive program of the European Commission that provides small or medium size enterprise (SME) awardees with funding, coaching and business acceleration services. It is an extremely competitive call, where only 2.5-5% of the applications submitted are usually funded.

The program offers both a grant and equity investment managed by the European Investment Bank. With this model, Peptomyc received €2.5M as a grant, and €2.5M as equity.

Peptomyc’s objectives for this project are to conduct a phase 1b multicenter single-arm clinical trial to investigate OMO-103 in combination with the standard of care regimen Gemcitabine and Nab-Paclitaxel in first line metastatic Pancreatic Ductal Adenocarcinoma (PDAC) patients, in 4 leading hospital centers in Spain. The company will also advance the development of a drug companion diagnostic, scale up the manufacturing process and develop its drugs’ pipeline.