Elicera Therapeutics develops treatments based on oncolytic viruses and CAR T cells. Through the company's immune-enhancing and commercially available technology platform iTANK (immunotherapies Activated with NAP for efficient Killing), the company's candidates are armed with immune-activating properties to enhance their effect and activate a parallel immune response against cancer for a double attack on tumor cells.
Support for innovative companies
The company has been successful in securing financing, both through capital raising through share issuance and through soft funds. This time, the cash position is being strengthened through EIC Accelerator Programme, which aims to finance pioneering small companies with grants of up to 2,5 million euros, as well as the possibility of strategic investments. The selection process is highly competitive, as only 5 percent of applying companies are granted funding. Elicera was awarded the funds to further develop its CAR T-cell therapy ELC-301, which is activated with the company's iTANK platform, which enhances immune activation and thus provides a broader attack on cancer cells.
Partial payment based on progress in the CARMA study
The current payment of EUR 500 was approved after the company reported success in the ongoing Phase I/IIa clinical study. CARMA. The study investigates the safety and efficacy of ELC-301 in the treatment of B-cell lymphoma. “We are pleased with the continued funding awarded through the European Innovation Council Accelerator Program,” says Jamal el-Mosleh, CEO of Elicera Therapeutics.
Continued development and future plans
The funds received will be used to further advance the clinical development of ELC-301.
"The capital will be used for the continued clinical development of ELC-301 in our ongoing clinical phase I/IIa trial CARMA, where we have recently made promising observations in the treatment of B-cell lymphoma,” El-Mosleh continues.
The fourth and final tranche of EUR 375 is expected to be paid in 000, based on continued progress in the research.
"We look forward to continued good dialogue with the authority and to reporting further data ahead of the fourth and final payment next year.”, concludes El-Mosleh.