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Highlights:
- Genflow Biosciences (LSE:GENF) secures over €4 million in funding from Wallonia to advance its lead gene therapy, GF-1002.
- The package includes a €1.2 million grant and a €2.8 million recoverable advance, supporting the development of MASH treatment.
- The funding will cover three years of work on GF-1002, accelerating the company's progress in gene therapy for liver disease.
Genflow Biosciences PLC (LSE:GENF), a biotech company focused on longevity research and therapies for age-related diseases, has received more than €4 million in financial support from the Wallonia region of Belgium. This significant funding will accelerate the development of Genflow's lead gene therapy, GF-1002, which targets metabolic-associated steatohepatitis (MASH), a severe liver disease with limited treatment options.
The funding package includes two components: a non-repayable research grant of €1.2 million, covering 70% of Genflow's research expenses, and a recoverable advance of €2.8 million, to be repaid once GF-1002 is commercialised as a MASH treatment. The advance will cover 55% of the development costs, supporting the company’s efforts over the next three years, with the first instalment allocated for working capital.
This financial backing is a crucial milestone for Genflow, enabling the company to accelerate its clinical development of GF-1002. The therapy offers a novel approach to addressing MASH, a liver condition that can lead to severe health complications. With few existing treatments for MASH, Genflow aims to fill a critical gap in the medical landscape.
CEO Eric Leire expressed his appreciation for the Wallonia region’s support, highlighting the importance of this funding in advancing the company’s gene therapy innovation. Leire noted that the financial package is an important validation of Genflow’s research and development efforts, reinforcing the company's leadership in the field of gene therapy for MASH treatment.
The GF-1002 project aligns with Genflow’s broader mission to develop therapies for age-related diseases, offering hope for patients with MASH and addressing a growing need in healthcare. The company’s focus on innovative gene therapies positions it at the forefront of biotechnology advancements, with the Wallonia region's support marking a key step forward in its progress.
