Oncodesign announces EUR 10 million funding for oncology biomarker program IMAkinib

08-12-2009: Oncodesign announced that French innovation agency, OSEO, will provide more than 40 percent of the funding for the IMAkinib program, aimed at oncology biomarker development. The total cost of the program will be around EUR 24.7 million over eight years. Oncodesign heads the project in collaboration with two partners: Guerbet for the development of radiotracers and clinical trials for the biomarkers and Ariana Pharmaceuticals for the analysis of chemical and biological data.

"The development will take place while we work on lead optimization programs for kinase inhibitors for our pharmaceutical customers," said Philippe Genne, Oncodesign CEO. "This synergy has the added advantage of benefiting our customers while we work on biomarkers adapted to the clinical environment and to the prescription of their therapies. IMAkinib means that Oncodesign will be clearly positioned on the drug discovery and pharmaco-imaging biomarker markets. The program will be a cornerstone of our strategy, which we started a year ago, to become a key player in therapeutic and diagnostic oncology discovery over the next three years."

The OSEO financing comes as part of France's ISI program for strategic industrial innovation (Innovation Stratégique Industrielle). ISI aims are to foster the emergence of European or global champions.