REG - Genflow Biosciences - Non-Dilutive Grant Research Award

Genflow BiosciencesAnnouncement

16/03/2022 07:15

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RNS Number : 9054E  Genflow Biosciences PLC  16 March 2022

Press Release

16 March 2022

 

 

Genflow Biosciences Plc

("Genflow" or "the Company")

 

Genflow Receives Non-Dilutive Grant Research Award from the Wallonia Region

 

Genflow (LSE: GENF) is pleased to announce that its subsidiary, Genflow
Biosciences SRL ("Genflow BE"), has received a non-dilutive research grant
award of up to €3.375m from the regional government of Wallonia in southern
Belgium SPW ("Service Public de Wallonie"). Genflow is a UK-based
biotechnology company focused on longevity and the development of therapies to
counteract the effects of aging and diseases associated with advanced age.

 

Genflow will use the grant to expedite its planned research and development
activity. The substantial grant funding is non-dilutive to Genflow
shareholders and is a significant benefit to the Company alongside the
relatively low operating costs that Genflow BE benefits from.

 

The grant will cover two years of costs of the pre-clinical research and
development program 'AAV/SIRT6 Gene Therapy for the Treatment of Progeria'
conducted by Genflow BE within the European Community. The total financed
program is for up to €3,375,770 covering 70% of the Group's EU research and
development.  These funds are in addition to the placing monies the Company
received from its oversubscribed placing at Admission.

 

Genflow BE will receive its first half yearly tranche of € 767,252.61
immediately which will put the Company ahead of its planned research and
development schedule and will accelerate Genflow's development of novel gene
therapies for improving healthy aging. Subsequent tranches will be released
every 6 months and a review will take place with SPW every 6 months to update
on Genflow BE's research progress.

 

Dr Eric Leire, Founder and CEO of Genflow Biosciences, said: "We are
incredibly delighted and honoured to receive this grant which will expedite
the research and development programme Genflow conducts in the EU. I
congratulate the team at Genflow for securing this supportive funding which
validates the belief in our company and our long-term vision. This grant will
enable Genflow to further expand its research which is designed to allow
people to live longer, healthier lives.

"Access to non-dilutive public funding is highly prized and much sought-after,
the support from SPW is a significant advantage to Genflow and will support
our R&D efforts while helping us to maintain relatively low operating
costs."

For further information please contact:

 Genflow Biosciences
 Dr Eric Leire                       via Tancredi +44 203 434 2330

 Chief Executive
 Clear Capital Markets Ltd
 Corporate Broker

 Jonathan Critchley                  +44 203 869 6086

 Keith Swann                         +44 203 897 0981
 Tancredi Intelligent Communication

 Media Relations
 Salamander Davoudi                  +44 7957 549 906

 Helen Humphrey                      +44 7449 226 720

 Benedetta Negri da Oleggio          +44 7838 029 970

                                     genflowbio@tancredigroup.com

 

About Genflow

Genflow is a UK-based biotechnology company established in 2020. The Company
is developing gene therapies designed to target the aging process and to
reduce and delay the incidence of age-related diseases. This will be done
through novel therapeutics targeting aging in humans by using adeno-associated
virus ("AAV") vectors to deliver copies of the Sirtuin-6 ("SIRT6") gene
variant that is found in centenarians into cells.

Its mission is to increase understanding of the factors that control and
impact lifespan. Genflow researches, develops, and commercialises therapeutic
solutions to lengthen health span, the amount of time we live in good health,
creating biological interventions that enable longer and healthier lives.
Genflow is dedicated to the development and commercialisation of novel
therapeutics targeting aging in dogs and humans. By treating aging, Genflow
Biosciences can contribute to a decrease in healthcare costs and lessen the
emotional and societal burden that comes with an aging population.

To learn more visit https://genflowbio.com/ (https://genflowbio.com/)

 

 

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