Apogenix Receives €20.7 Million in Public Funding for Pivotal Study and Preparation for Market Production of Asunercept for the Treatment of COVID-19
- Main investor dievini supports project with additional €5.1 million
- Apogenix is one of six therapeutics developers in Germany selected to receive funding totaling €150 million
Apogenix, a biopharmaceutical company developing next generation immunotherapeutics, announced today that it has received a funding commitment from the German Federal Ministries of Health (BMG) and Education and Research (BMBF) in the amount of €20.7 million as part of the funding initiative “Clinical development of COVID-19 drugs and their manufacturing capabilities.” At the beginning of September, the two ministries held a press conference to announce the companies that had been selected for funding. Apogenix has just received the official funding notice. The funds will be used to finance a phase III clinical trial (ASUCOV) with CD95 ligand inhibitor asunercept in moderately to severely ill, hospitalized COVID-19 patients. In addition, the GMP production process for asunercept will be further developed to market maturity and the required material for the phase III clinical trial will be produced. The German government will fund 80 percent of these costs, and the remaining 20 percent will be covered by Apogenix’s main investor dievini Hopp BioTech Holding GmbH & Co. KG.