GT Gain Therapeutics SA Announces Funding from the Swiss Innovation Agency Supporting a 3-year Research Collaboration Project with the Institute for Research in Biomedicine and Neurocentro
- Researchers will further develop the Site-directed Enzyme Enhancement Therapy (SEE-Tx)™ technology for the treatment of rare genetic and neurodegenerative diseases
- The collaborative agreement unites resources from the Institute for Research in Biomedicine (IRB)-USI; Neurocentro - Ente Ospedaliero Cantonale (EOC) & GT GAIN Therapeutics, SA
LUGANO, Switzerland, Dec. 15, 2020 (GLOBE NEWSWIRE) -- GT Gain Therapeutics SA (“Gain”), a subsidiary of Gain Therapeutics, Inc., a biotechnology company focused on redefining drug discovery by identifying and optimizing allosteric binding sites that have never before been targeted, along with the Institute for Research in Biomedicine (IRB, affiliated to USI Università della Svizzera Italiana) and the Neurocentro announced today that Innosuisse, the Swiss Innovation Agency, has agreed to support the CHF 1.5M project by funding approximately CHF 850,000 to leverage these world class research organizations and promote continued innovation in the area of CNS diseases. The remaining support will come from Gain to cover the cost of related headcount expenses being dedicated to the project. The award specifically supports further investigation of the mechanisms of action of Gain’s proprietary STAR small molecule therapeutic candidates on lysosomal dysfunction and prion-like transmission of toxic forms of protein aggregates associated with neurodegenerative diseases.
“Being recognized as an Innosuisse funded innovation project reinforces the support for our innovative approach and unites us with scientists and researchers as passionate as we are to discover new therapeutic approaches using our SEE-Tx™ target identification platform,” said Manolo Bellotto, Ph.D., President and General Manager of Gain. “The specific know-how in protein quality control by Prof. Molinari at the IRB and the expertise in neurosciences of Dr. Paganetti from Neurocentro will certainly contribute to a further understanding of the mechanism of action of our molecules in rare and genetic diseases, thus accelerating their development towards the clinic.”
Dr. Maurizio Molinari, group leader of the Protein Folding and Quality Control research team from the IRB added, “We are honored to be collaborating with the Gain team and to evaluate Gain’s novel therapeutic candidates as we work to advance new, innovative treatment options for rare lysosomal disorders and neurodegenerative diseases for which there are currently few treatment options. We are grateful to the Swiss Innovation Agency for their support and look forward to initiating this critical research program.”
About Gain Therapeutics, Inc.
Gain Therapeutics, Inc. is redefining drug discovery with its SEE-Tx™ target identification platform. By identifying and optimizing allosteric binding sites that have never before been targeted, Gain is unlocking new treatment options for difficult-to-treat disorders characterized by protein misfolding. Gain was originally established in 2017 with the support of its founders and institutional investors such as TiVenture, 3B Future Health Fund (formerly known as Helsinn Investment Fund) and VitaTech. It has been awarded funding support from The Michael J. Fox Foundation for Parkinson’s Research (MJFF) and The Silverstein Foundation for Parkinson’s with GBA, as well as from the Eurostars-2 joint program with co-funding from the European Union Horizon 2020 research and Innosuisse. In July 2020, Gain Therapeutics, Inc. completed a share exchange with GT Gain Therapeutics SA., a Swiss corporation, whereby GT Gain Therapeutics SA became a wholly owned subsidiary of Gain Therapeutics, Inc.
For more information, visit https://www.gaintherapeutics.com/
About the Institute for Research in Biomedicine (IRB)
The Institute for Research in Biomedicine was founded in 2000 with the clear and ambitious goal of advancing the study of human immunology, with particular emphasis on the mechanisms of host defense. The activities of the 13 research groups now extend beyond immunology to include the fields of DNA repair, rare diseases, structural and cell biology. Located in Bellinzona, capital of the Italian-speaking Canton of Ticino, the IRB is an affiliated institute of the USI Faculty of Biomedical Sciences.
For more information, visit : www.irb.usi.ch
About Neurocentro - Ente Ospedaliero Cantonale (EOC)
The EOC multisite hospital is organized and managed as a modern company at the service of the patient. It has structures with clear segregations of functions and flexible management systems that foster innovation, accountability and simplification.
Our approach favors a collegial and participatory management style. General management and hospital directors form the EOC Management Coordination Conference, physicians are directly involved in EOC management through the Clinical Coordination Conference. The other professional categories actively participate in the management of the EOC within inter-hospital groups.
For more information, visit www.eoc.ch/en/Centri-specialistici/NSI/NSI.html
Any statements in this release that are not historical facts may be considered to be “forward-looking statements.” Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Such statements include, but are not limited to, statements regarding Gain Therapeutics, Inc. (Gain) expected use of the proceeds from the Series B financing round; the market opportunity for Gain’s product candidates; and the business strategies and development plans of Gain. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include Gain’s ability to: make commercially available its products and technologies in a timely manner or at all; enter into other strategic alliances, including arrangements for the development and distribution of its products; obtain intellectual property protection for its assets; accurately estimate its expenses and cash burn and raise additional funds when necessary. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Except as required by law, Gain does not undertake any obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
Gain Therapeutics Investor Contact:
Gain Therapeutics Media Contact:
Cait Williamson, Ph.D.
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