Exonhit is Beneficiary of a Grant from the European Union within the Responsify Consortium
PARIS, Mar 05, 2012 (BUSINESS WIRE) -- Regulatory News:
-- EUR 418,000 grant
-- European personalized medicine consortium with 12 partners
-- Identification of predictive biomarkers of response to two treatments of breast cancer
Exonhit announced today that it is the beneficiary of a EUR418,000 grant from the European Union through its participation in the RESPONSIFY consortium financed under the 7th Framework Programme for Research and Technological Development (FP7) set up by the European Commission to co-finance research and development projects with grants to research actors.
RESPONSIFY is a European consortium of 12 partners focusing on personalized medicine in oncology. Its objective is to identify predictive biomarkers of response to two common chemotherapeutic treatments of breast cancer, anti-HER2 (Herceptin) and anti-angiogenic (Avastin) therapies. The goal is to develop CE marked IVD tests that will be approved for current clinical practice. The consortium is granted a total of approximately EUR6 million, of which EUR 4.8 million will be received at inception of the programme.
Exonhit brings to the project the power of its proprietary Genome Wide SpliceArray(TM) (GWSA) platform, which will be used to analyze patient transcriptomic profiles, as well as its demonstrated ability to develop and register diagnostic tests. The Company will be in charge of filing for IP protection with respect to relevant molecular signatures and associated tests, as well as ensuring CE marking and commercialization of predictive tests identified on its platform.
"Exonhit's involvement in this consortium is evidence of the quality of its technology and know-how to identify novel biomarkers. Our collaboration with Institut Gustave Roussy regarding the Dx14 test was key," said Loic Maurel, President of Exonhit's Management Board. "This grant which covers more than 70% of our costs in this project enables us to add predictive tests in a key indication to our existing development portfolio."
In this programme, coordinated by the Charite University Hospital from Berlin, Exonhit will work together with prestigious academic partners (German Breast Group Forschungs clinical network, Basel University, Institut Jules Bordet from Brussels, Karolinska Institutet from Stockholm, University College of London and Institut Gustave Roussy in Paris), and several European industrial partners.
About Exonhit's GWSA platform
Exonhit's Genome Wide SpliceArray(TM) (GWSA) platform is a patented microarray design that incorporates a specific probe configuration, enabling an exhaustive monitoring of RNA splice variants in humans, mice and rats. These arrays cover whole genomes and monitor known and predicted alternative RNA splicing events. They are used in the Company's biomarker and target discovery process.
Exonhit (alternext:ALEHT) is a biotech company, focused on personalized medicine, which develops targeted innovative therapeutic and diagnostic products, in oncology and Alzheimer's disease. Exonhit has a balanced development strategy with internal development programs and strategic collaborations.
Exonhit is headquartered in Paris, France and has a U.S. subsidiary in Gaithersburg, Maryland. The Company is listed on NYSE Alternext in Paris and is part of the NYSE Alternext OSEO innovation index. For more information, please visit http://www.exonhit.com .
This press release contains elements that are not historical facts including, without limitation, certain statements on future expectations and other forward-looking statements. Such statements are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those anticipated.
In addition, Exonhit, its shareholders, and its affiliates, directors, officers, advisors and employees have not verified the accuracy of, and make no representations or warranties in relation to, statistical data or predictions contained in this press release that were taken or derived from third party sources or industry publications, and such statistical data and predictions are used in this press release for information purposes only.
Finally, this press release may be drafted in the French and English languages. In an event of differences between the texts, the French language version shall prevail.