REG - Genflow Biosciences - Genflow Secures Non-Dilutive Financial Support

Genflow BiosciencesAnnouncement

22/10/2024 07:00

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RNS Number : 0101J  Genflow Biosciences PLC  22 October 2024

 

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22 October 2024

 

Genflow Biosciences Plc

 

Genflow Secures €4 Million Non-Dilutive Financial Support from Wallonia
Region for GF-1002 Development

 

Genflow Biosciences Plc (LSE:GENF) (OTCQB:GENFF) ("Genflow" or "the Company")
an emerging leader in the field of longevity research, focused on developing
therapeutic solutions for the prevention of age-related diseases is pleased to
announce today that it has received official confirmation of €4,026,525 in
non-dilutive financial support from the Wallonia region. The funds will
support the ongoing development of Genflow's lead gene therapy, GF-1002, for
the treatment of Metabolic Associated Steatohepatitis (MASH), a severe and
progressive liver disease.

 

The financial support comprises a €1,218,349.44 non-reimbursable research
grant, covering 70% of the Company's research costs, and a €2,808,175.92
recoverable advance, repayable to the Wallonia region upon commercialisation
GF-1002 for use in treating MASH, funding 55% of the Company's development
costs. This funding, when received, is expected to cover three years of
Genflow's development program for GF-1002,with the first installment being
received as working capital. The Company is committed to securing the
necessary funding to cover its share of the project over the next three years.

 

The securing of such funding marks a significant milestone for Genflow and
will enable the Company to accelerate the clinical progress of GF-1002, which
represents a novel approach to treating MASH, a condition with limited
treatment options. The Wallonia region's financial support highlights the
growing recognition of Genflow's innovative work in gene therapy.

 

Dr. Eric Leire, CEO of Genflow, commented: "We are delighted to receive this
substantial financial backing from the Wallonia region as it is an important
validation of our research and development efforts. It will allow us to
further the development of GF-1002 and strengthen our position at the
forefront of gene therapy innovation for MASH treatment.  We would like to
sincerely thank the Wallonia region for its support."

 

Further updates on the progress of GF-1002 will be provided in due course.

 

Contacts

 

 Genflow Biosciences  Harbor Access
 Dr Eric Leire, CEO   Jonathan Paterson, Investor Relations
 +32-477-495-881      +1 475 477 9401
                      Jonathan.Paterson@Harbor-access.com

 

 Corporate Brokers
 Capital Plus Partners Ltd
 Keith Swann, +44 0203 821 6169
 Jon Critchley, +44 0203 821 6168

 

 

About Genflow Biosciences

 

Founded in 2020, Genflow Biosciences Plc (LSE:GENF) (OTCQB:GENFF), a
biotechnology company headquartered in the UK with R&D facilities in
Belgium, is pioneering gene therapies to decelerate the aging process, with
the goal of promoting longer and healthier lives while mitigating the
financial, emotional, and social impacts of a fast-growing aging global
population.

 

Genflow's lead compound, GF-1002, works through the delivery of a centenarian
variant of the SIRT6 gene which has yielded promising preclinical results.
Genflow's development program is exploring the potential benefits of GF-1002
in treating MASH (Metabolic Dysfunction-Associated Steatohepatitis), the most
prevalent chronic liver disease for which there is no effective treatments.

 

Please visit www.genflowbio.com (http://www.genflowbio.com)   and follow the
Company on LinkedIn and Twitter/X.

 

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