SOURCE: Oryzon Genomics

Oryzon Genomics

December 21, 2016 08:00 ET

ORYZON Receives a New 0.8M USD Public Grant to Explore New Indications for Epigenetic Inhibitors

Within a consortium, led by Oryzon, that will have a 1.3M USD aggregated budget

BARCELONA, SPAIN and CAMBRIDGE, MA--(Marketwired - December 21, 2016) - Oryzon Genomics (MAD: ORY) (ISIN Code: ES0167733015), a public clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, announced today that the Company will receive a new grant in the form of a loan with interest rate granted, from the Ministry of Economy and Competitiveness, Government of Spain and FEDER Funds from the European Union and included under the RETOS Collaboration 2016 program. Oryzon will receive approximately 0.8M USD (multiyear disbursements) for further development of its epigenetic inhibitors against inflammatory indications.

This grant (RTC-2016-4955-1) will cover the partial funding of a project entitled "Epigenetic regulation of the inflammatory response" that is currently being carried out under the leadership of Oryzon in collaboration with various well renowned academic institutions such as the Cajal Institute (National Spanish Research Council, CSIC, Madrid), the López Neira Institute (CSIC, Granada), Bosch i Gimpera Foundation (University of Barcelona) and the Autonomous University of Barcelona. The project has a 33 month duration, starting April 1, 2016 and ending December 31, 2018, and the aggregated budget of the project is approximately 1.3M USD. The public institutions will receive a non-reimbursable grant to develop different activities to assess the potential of Oryzon's drugs on inflammatory diseases for a total amount exceeding 0.4 M USD.

Carlos Buesa, President and Chief Executive Officer of Oryzon, commented: "This private-public consortium will set up useful tools and approaches to assess the therapeutic potential of LSD1 inhibitors and other epigenetic modulators in inflammatory and autoimmune diseases, a field that Oryzon is already exploring with ORY-2001, its first in class epigenetic program in Multiple Sclerosis. ORY-2001 is expected to finish Phase I in the next months."

About Oryzon

Founded in 2000 in Barcelona, Spain, Oryzon (ISIN Code: ES0167733015) is a clinical stage biopharmaceutical company considered as the European champion in Epigenetics. The company has one of the strongest portfolios in the field and a clinical asset already partnered with Roche. Oryzon's LSD1 program is currently covered by +20 patent families and has rendered two compounds in clinical trials. In addition, Oryzon has ongoing programs for developing inhibitors against other epigenetic targets. The company has a strong technological platform for biomarker identification and performs biomarker and target validation for a variety of malignant and neurodegenerative diseases. Oryzon's strategy is to develop first in class compounds against novel epigenetic targets through Phase II clinical trials, at which point it is decided on a case-by-case basis to either keep the development in-house or to partner or out-license the compound for late stage development and commercialization. The company has offices in Barcelona and Cambridge, Massachusetts. For more information, visit www.oryzon.com.

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking information and statements about Oryzon Genomics, S.A., including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates" and similar expressions. Although Oryzon Genomics, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Oryzon Genomics, S.A. shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Oryzon Genomics, S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents sent by Oryzon Genomics, S.A. to the Comisión Nacional del Mercado de Valores, which are accessible to the public. Forward-looking statements are not guarantees of future performance. The auditors of Oryzon Genomics, S.A, have not reviewed them. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to Oryzon Genomics, S.A. or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to Oryzon Genomics, S.A. on the date hereof. Except as required by applicable law, Oryzon Genomics, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information