Mucosis receives financial support from the Dutch government for its Flugem program
Groningen, the Netherlands, May 31, 2010 - Dutch vaccine development company Mucosis B.V. announced today that it has received an innovation credit line of approximately € 3 million from Agentschap NL, an agency of the Dutch Ministry of Economic Affairs. Mucosis will use this loan towards the clinical development of its lead product FluGEM™, an influenza vaccine that can be administered by a simple spray in the nose. The loan will be redeemed only if the FluGEM™ clinical development program is concluded successfully.
“We are really pleased with the government’s financial support. This non-dilutive funding underlines the progress we have made so far and, even more importantly, strengthens our financial capabilities going forward. It will enable us to generate proof of efficacy with FluGEM™ in man” said Govert Schouten, CEO of Mucosis.
Mucosis develops novel vaccines on the basis of its unique Mimopath™ technology. This invention is key to the growth strategy for the coming years.
About Mucosis - www.mucosis.com
Mucosis B.V. is a Dutch biotechnology company developing innovative mucosal vaccines that can be applied needle-free via the nose or mouth. Mucosis’s lead product candidates are FluGEM™, an intranasal vaccine to prevent influenza, and PneuGEM™, a vaccine preventing diseases caused by pneumococcal bacteria. Mucosis’s vaccines are based on the patented Mimopath™ technology. This technology enables a more natural immune response as well as a broad base of protection.
About Mimopath™ technology - http://www.mucosis.com/mimopath.php
Mimopath™ technology is based on Lactococcus lactis, a safe bacterium commonly used in the food industry. Mucosis has developed an easy technique to formulate the L. lactis bacteria into non-living particles that can be loaded with antigens from viral, bacterial, or parasitic origin. The antigen-covered particles form a vaccine that can be delivered into the nose or mouth, without the need for a needle. These vaccines raise protective immunity by activation of both the innate and the adaptive immune system.
About Agentschap NL - http://www.agentschapnl.nl/
Agentschap NL is an agency of the Dutch Ministry of Economic Affairs. Its stimulation programs and different subsidy schemes target high technology, energy and climate, the environment, international businesses and collaboration. The innovation credit line (innovatiekrediet) is aimed at supporting innovative and commercially attractive development projects with an interest-bearing loan of which repayment is waived if the project fails.
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