OCTIMET Oncology NV, a Belgian clinical-stage biotech company, based at the JLABS facility in Beerse with a focus on the development of MET kinase inhibitory drug candidates having additional differentiating properties, today announced it has received a €1.077 million grant from VLAIO, the Flanders organization for Innovation & Entrepreneurship.

Beerse (Belgium), 8 August 2018 – OCTIMET Oncology NV, a translational accelerator, focusing on creating value for patients and investors by providing rapid clinical proof of concept for cancer therapies, through innovative clinical development strategies and patient centered biomarker approaches, announces that it has been awarded a €1.077 million industrial R&D grant by Flanders Innovation & Entrepreneurship (VLAIO). The grant will be used by OCTIMET to generate preclinical and clinical biomarker data to further unravel the mode of action of OMO-1, the lead compound currently evaluated in patients, both in a monotherapy setting and in combination with other therapies.

Timothy Perera, CEO of OCTIMET Oncology NV: “We are delighted with the continued financial support we have received from VLAIO. This grant gives us the opportunity to expand our ability to generate further data for OMO-1 from different angles. Gathering these additional insights should contribute to a broader and accelerated valorisation of OCTIMET’s lead compound in the clinic.”.

Grant writing was supported by BiotechSubsidy, a company which converts high quality projects in high quality grants.

VLAIO is a government agency charged with implementing the economic, innovation and enterprise policy in Flanders, Belgium. The agency seeks to finance innovative projects of companies, research centres, organizations and individuals through assignments set by the Flemish Government.

Media Contacts:

Dr Timothy Perera, CEO, OCTIMET Oncology NV
Telephone: +32 (0)473 558 353 -  E-Mail:  - www.octimet.com