LONDON (Alliance News) - Biotechnology company SalvaRx Group PLC on Thursday said a consortium in which it is a member has secured an EUR8.3 million grant from the European Commission.
SalvaRx said the consortium, which includes its iOx Therapeutics Ltd subsidiary alongside academic experts and other biotechnology companies, has received the grant under the Horizon 2020 programme to support the development of cancer immunotherapy candidates.
The consortium will develop a new product that combines iOx's iNKT agonist with an NY-ESO-1 tumour vaccine developed by the Ludwig Institute for Cancer Research, SalvaRx said.
"We are extremely pleased to have been awarded a grant from Horizon 2020. Academic and private collaborations like this are critical for propelling scientific discovery and development forward and helping patients access potentially life-saving innovations more quickly," said SalvaRx Chief Executive Ian Walters.
SalvaRx shares were untraded on Thursday, having last traded at 28.80 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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