Photocure receives grant of MNOK 9.1 from the Research Council of Norway
Photocure has been awarded NOK 9.1 million for the next three years from The Research Council of Norway (RCN) high-profile programme "User-driven Research-based Innovation" (BIA). Photocure received the grant for the project "Early detection of premalign conditions in colon when using fluorescence colonoscopy".
In this project, Photocure will develop fluorescence-based photodynamic diagnosis to improve detection of tumors compared to standard colonoscopy in patients with suspicion of colorectal cancer. The grant will be used to develop an oral formulation of the compound hexylaminolevulinate and fund clinical studies in the development program.
Kjetil Hestdal MD. Ph.D., President and CEO of Photocure comments: "The grant from the RCN is important for the development of the colon project. The current grant will give Photocure financial support through this first, crucial phase of the development of the drug formulation and clinical studies. The RCN's BIA program is vital for innovative projects like the colon fluorescence project. In addition to the financial implications of the grant, I am pleased to register that the independent evaluators of the RCN share our belief in the photodynamic technology."
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