[press release] ALGENICS receives grant to support development of its technology for the production of monoclonal antibodies in oncology
30/01/2012
Algenics, the biopharmaceutical company offering a unique microalgae-based solution for the development of recombinant biotherapeutics, announced that it has received a grant from OSEO, the French innovation agency, with the support of the European Regional Development Fund.
This grant, which is part of a €700 000 phase 1 project, will help support the establishment of an alternative and robust technology for manufacturing of monoclonal antibodies. The ongoing program aims at producing a biobetter of an antibody that has been successfully used in the treatment of various cancers. This second generation biotherapeutic will benefit from features of the microalgal cell line PTA to achieve enhanced biological properties while ensuring compliance with upstream & downstream processes suitable for secreted products into chemically-defined culture medium.
“This grant is fully in line with our strategy to extend our technology to therapeutic areas where we believe it can bring competitive advantage. This R&D program represents an important milestone for Algenics as it will both address the major market of monoclonal antibodies and will initiate the development of a product candidate” said Aude Carlier, CEO & CSO of Algenics.