Oryzon Receives €2.3 Million in Subsidies to Finance Two New Projects

Oryzon Genomics boosts its research portfolio. The Spanish biopharmaceutical company in the clinical phase, which develops epigenetic therapies in diseases with unmet basic needs, has announced aid from the State Research Agency and the Ministry of Science and Innovation worth €2.3 million. The public-private financing responds to the Dictionis projects, with a budget of €951,000, and Modern, with a budget of €1.3 million.

Both projects began on April 1st, 2023, and are expected to last two years. Of the €2.3 million, Oryzon will implement approximately €1.4 million and is expected to receive an additional grant to hire two doctors.

The Dictionis project will be developed in collaboration with the Fundació Center de Regulació Genòmica of Barcelona ​​and will focus on the diagnosis of chromatinopathies through the detection of alterations in histone modifications.

For its part, the Modern project will have the collaboration of the Autonomous University of Barcelona (UAB), the Fundació de Institut d’Investigació Biomédica de Bellvitge (Idibell), and LEiTAT, and in this case, it will focus on high-performance technologies for the discovery and validation of new epigenetic targets and inhibitors in the treatment of neuronal pathologies.

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Both Oryzon Genomics projects started on April 1st, 2023, and are expected to last approximately two years

The biopharmaceutical company reduced its losses by 56% in the first half of 2023 compared to 2022, up to €568,224. Oryzon assured that these losses were a consequence of the development phase the company is currently in. Sales in research and development (R&D) increased by 2%, reaching €7.9 million until June. Of this total, €7.5 million has been allocated to development activities and the remaining €400,000 has been invested in research initiatives.  

Oryzon Genomics is a clinical-stage biopharmaceutical company that discovers and develops epigenetics-based therapies for patients with cancer and neurodegenerative disorders. Although the company was established in 2000, it has been listed on the stock market since 2015. Carlos Buesa Arjol has been the president and CEO of Oryzon Genomics since its founding.

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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