ORYZON awarded EU Seal of Excellence and public financing of 2 M USD to develop iadademstat in Acute Myeloid Leukemia

Oryzon Genomics, S.A. (ISIN Code: ES0167733015, ORY), a clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, announced today that it has been awarded the Seal of Excellence, a quality label awarded by the European Commission, and a non-refundable public grant of

1.87 M €.

The funding is for Oryzon’s project entitled “Development of new treatments against Acute Myeloid Leukemia (AML) using iadademstat,an epigenetic drug” with a duration of 30 months (January 2022 - June 2024). The overall goal of this project is to supplement the execution costs of iadademstat’s ongoing FRIDA clinical study, and to develop the formulation and manufacturing processes for industrial production and worldwide supply of iadademstat. The U.S. Food and Drug Administration (FDA) has recently approved an Investigational New Drug (IND) application for FRIDA, a clinical trial to evaluate efficacy and optimal dose of iadademstat plus gilteritinib in patients with relapsed/refractory AML with FLT3 mutations.

Dr. Carlos Buesa, Oryzon’s Chief Executive Officer, said: “We are grateful to the EU for honoring Oryzon with the Seal of Excellence award, and to the Spanish Ministry of Science and Innovation and CDTI for this financing from European funds. Europe needs to create technological and industrial acceleration instruments to compete globally with the USA and China. Our project is a clinical stage drug with an innovative mechanism of action and with potential for accelerated development. It will make a significant difference to patients, and is an ideal fit for this European strategy.”

The Spanish Ministry of Science and Innovation, through its subsidiary body CDTI, manages the procedure for the direct granting of funding for R&D projects and industrial feasibility studies of SMEs that have previously obtained a Seal of Excellence in the call of the European Innovation Council Accelerator instrument (EIC Accelerator) of the Horizon Europe Program. The Seal of Excellence certificate recognises the value of the proposal and helps other funding bodies take advantage of the high quality Commission evaluation process.