Solvo Receives Funding
Szeged - A research project of Hungarian Solvo Biotechnology Ltd. has been awarded some a1 million in the life science category of this year's National Research and Development Programme - put out to tender by the Hungarian National Office for Research and Technology. Solvo applied for the funding as part of a consortium - that also includes Austrian Intercell AG, Hungarian biotech and IT companies, as well as university and research institutes - and will use it for the development of molecular therapeutic methods aimed at mo-dulating the effect of the progesteron-induced inhibiting factor (PIBF). The project's diagnostics part has already received a a1.4 million grant from the 6th Framework Research Programme last year.
Solvo's results recently gained it the third place in the Rising Stars category (top 15) of Deloitte's “Fast Technology 50 in Central Europe” programme. Rising stars have exhibited considerable success but are too young and small to meet the Fast 50 criteria. They have been in existence for three to five years with a minimum base revenue of Euro30,000. The competition is open for companies from Albania, Bosnia & Herze-govina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Poland, Romania, Serbia & Montenegro, Slovakia and Slovenia.