Receipt of First Tranche of Grant
Genflow Biosciences Plc has received the initial €336,467 tranche of a €4 million non-dilutive grant from the Wallonia Region of Belgium, which will support the three-year development program for its lead gene therapy candidate, GF-1002, targeting MASH. This funding is crucial for advancing GF-1002 and achieving planned development milestones, with further instalments contingent on the agreed disbursement schedule.
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Genflow Biosciences Plc (LSE:GENF) (OTCQB:GENFF) ("Genflow" or "the Company"), a leading European-based biotechnology company focusing on longevity, is pleased to confirm receipt of the first instalment of €336,467 of the previously announced €4 million non-dilutive grant awarded by the Wallonia Region of Belgium, (see RNS dated 22 October, 2024 here.)
The support package spans a three-year development programme and is aligned with Genflow's existing roadmap for GF-1002 in MASH.
The grant will support the continued development of the Company's lead gene therapy candidate, GF-1002, with further instalments expected to be received in accordance with the agreed milestone and disbursement schedule. The first instalment has been received and will be applied toward eligible project-related activities.
- Eric Leire, CEO of Genflow, commented: "We are pleased to confirm receipt of the first instalment under the €4 million Wallonia Region grant. This initial funding supports the continued advancement of GF-1002 in MASH and strengthens our ability to execute against planned development milestones. We look forward to progressing the programme and receiving subsequent instalments in line with the agreed framework."
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