Loan to support product development through Phase II clinical trials
Lanthio Pharma B.V., the biopharmaceutical company focused on discovering and developing lanthipeptides, announced today that it has been awarded an Innovation Credit loan of up to €3.6 million by Dutch Government agency RVO. The Innovation Credit loan will support the development of LP2, an innovative lanthipeptide for treatment of Idiopathic Pulmonary Fibrosis.
LP2 is the first peptide-based drug to selectively activate the Angiotensin type 2 (AT2) receptor of the Renin Angiotensin System (RAS). The natural role of the AT2 receptor is to protect damaged tissue against inflammation and fibrosis. Once safety and efficacy of LP2 is established in Idiopathic Pulmonary Fibrosis patients, application of LP2 could be extended to many other forms of fibrosis, including renal
fibrosis, heart fibrosis and liver fibrosis.
The Innovation Credit loan is made available by Dutch Government agency RVO to stimulate innovative drug development in The Netherlands. The loan is risk bearing
and will be matched by Lanthio Pharma’s investors. The loan covers up to 35% of development costs through to completion of Phase II human Proof of Concept trials.
Bart Wuurman, CEO of Lanthio Pharma commented: “We are very pleased with this support by the Dutch Government to help us develop our fibrosis drug. We are keen to show that LP2 is effective against Idiopathic Pulmonary Fibrosis, a life threatening disease for which effective treatments are not yet available.”