Non-Dilutive Grant Research Award

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 Chief Executive	via Tancredi [phone]
Clear Capital Markets Ltd
Corporate Broker  Jonathan Critchley Keith Swann	[phone] [phone]
Tancredi Intelligent Communication Media Relations
Salamander Davoudi Helen Humphrey Benedetta Negri da Oleggio	[phone] [phone] [phone] [e-mail]

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/

 

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