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AbilityPharma awarded €5 million from the Horizon Europe EIC Accelerator Pilot Program to conduct a Phase 2b clinical trial with ABTL0812 in patients with advanced pancreatic cancer

March 25, 2020

BARCELONA - March 16, 2020 - The biopharmaceutical company Ability Pharmaceuticals SL announced today that it has been awarded €5 million blended financing from the Horizon Europe, European Innovation Council (EIC) Accelerator Pilot Program. The grant will fund a phase 2b clinical trial in advanced pancreatic cancer patients to investigate ABTL0812 in combination with the standard-of-care chemotherapy.

The EIC Accelerator (former SME Instrument) is a highly competitive program of the European Commission offering funding, coaching and business acceleration services to innovative small or medium-sized businesses with global ambitions. In this second call of the program, only 2,4% of applications submitted have been funded.

The program provides grant-only support as well as support in the form of blended finance (combining grant and equity). In fact, for AbilityPharma, received ca. 2,5M € as grant, and ca. 2,5M € as equity and managed by the European Investment Bank.

AbilityPharma’s objectives for this project are to conduct a phase 2 multicenter double-blind placebo controlled clinical trial in pancreatic cancer to investigate ABTL0812 in combination with the FOLFIRINOX. It will include leading centers in Spain, France, Israel and other European countries. After finishing the clinical trial, a partnership (licensing deal) with a big pharma partner will be stablished to further develop ABTL0812 to make it available to pancreatic cancer patients. Top Key Opinion Leaders in pancreatic cancer clinical research in Barcelona, France, Israel and the USA have endorsed the project and will lead the clinical trial in their territories.

Carles Domenech, Executive Chairman and CSO of AbilityPharma said “Today marks an important milestone in AbilityPharma’s history. ABTL0812 has strong potential for treating pancreatic cancer, and this funding is crucial to address this urgent unmet medical need by providing a safe and efficacious treatment to these patients.”  , Maribel Berges CEO of AbilityPharma added “This grant is the result of the hard work performed by the highly qualified team of AbilityPharma, and it strengthens our balance sheet to continue developing our clinical candidate ABTL0812”. The whole AbilityPharma team and its investors are extremely satisfied “to be able to try to bring solutions to pancreatic cancer patients, where only 2% of all cancer research funds are devoted”.

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