(PRWEB) February 25, 2013
Euroscreen SA, Gosselies, Belgium, February 25, 2013 – Euroscreen, a drug development company focused on delivering first-in-class therapeutics, announced today that it has been awarded a €2.47 million grant from the Walloon Region (Service Public of Wallonia, DG06) and from the European Regional Development Fund (ERDF) for an innovative program focused on a novel G-protein coupled receptor (‘GPCR’) target implicated in the treatment of neurodegenerative diseases, including Alzheimer’s Disease.
"Neurodegenerative diseases present a huge unmet medical need to relieve patient suffering and lift the burden of health care costs on society. Drug discovery in this field is expensive and risky, but the reward for success is immense, and we are extremely appreciative of the insight and support of this non-dilutive money from DG06 and ERDF," said Jean Combalbert, Euroscreen's CEO.
"The Walloon Region offers a strong research base in the field of Neurodegenerative Diseases. This investment builds on the existing skills in our community while providing hope to patients suffering from these debilitating diseases,” commented Mr. Raymond Montfort, Director DG06.
The goal of this 2-year program is to deliver proprietary drug candidates with proof-of-concept data in preclinical models of neurodegenerative diseases, such as Alzheimer’s, Parkinson’s, Amyotrophic Lateral Sclerosis as well as Traumatic Brain Injury. This funding fits with Euroscreen’s objective to advance compounds from discovery into clinical development for innovative drugs bringing a significant therapeutic added value for the treatment of such diseases.
Euroscreen has a drug development track-record with multiple innovative and proprietary chemical entities targeting G Protein Coupled Receptors (GPCR).
Euroscreen is advancing its orally-available and highly specific lead program - ESN364 - into clinical trials for women’s diseases such Endometriosis and/or Poly-Cystic Ovary Syndrome (PCOS), and is also actively seeking partners for its other pharmaceutical candidates, such as its ESN282 program for inflammation indications such as Ulcerative Colitis.
Euroscreen is a Belgium based, private Drug Discovery and Development company providing first-in-class small molecule drug candidates for therapeutic areas including inflammation, neurodegenerative diseases and women’s diseases. Euroscreen also has a dedicated business unit (Euroscreen FAST) providing fee-for-service testing for biotech and pharma companies worldwide.The Company is backed by leading investors, including Vesalius Biocapital, SRIW, Fortis Private Equity, Compagnie du Bois Sauvage and others.
Further information about the Company and its drug development programs can be found online at http://www.euroscreen.com or contacting info (at) euroscreen (dot) com.
About DG06 (Service Public of Wallonie)
DG06 Economy – Employment – Research is a branch of the administration of the region of Wallonia, Belgium. Through its Technology Development Department, the Walloon Region has set up several incentives to boost regional innovation and research, to meet the needs of all companies, from start-ups to well-established enterprises.