France's Medesis Pharma surges on funding request for nuclear contamination drugs

Medesis Pharma SA

05/04/2022 09:13

April 5 (Reuters) - French biotech company Medesis Pharma
 ALMDP.PA  has requested defence funding to speed up the
development of three drugs to treat nuclear contamination, it
said on Tuesday, sending its shares up by nearly half of their
value in early trading.
    The company, whose stock rose 47%, said its products were
relevant to the war in Ukraine, which has raised the risk of
nuclear war, as well as to European plans to increase nuclear
generation as countries seek to reduce reliance on Russian
energy and secure carbon-free electricity.
    "Three drugs are specifically intended for the treatment of
large populations contaminated or irradiated after a civil or
military nuclear accident," the group said, as it announced a
funding request to France's Defence Innovation Agency (DIA).
    "To date, there is no suitable treatment for a serious
nuclear accident," it added in a statement.
    The drug programmes - which include a synthesised version of
Prussian Blue - seek to treat plutonium and caesium
contamination, as well as to prevent and treat respiratory and
digestive inflammations caused by radiation.
    President Emmanuel Macron, who is running for re-election
this month, has announced plans for six new nuclear reactors and
studies for further eight.  urn:newsml:reuters.com:*:nL5N2VK549
    Sources told Reuters last week the European Union had agreed
to stockpile equipment and medicine to protect against nuclear
incidents, after France called in internal meetings for a
bloc-wide plan to distribute potassium iodide tablets.
 urn:newsml:reuters.com:*:nL5N2VY6CR

 (Reporting by Sarah Morland; editing by Barbara Lewis)
 ((sarah.morland@thomsonreuters.com; +48 58 769 65 92;))