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Commission funds Mutabilis project
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FundingFranceEU

Commission funds Mutabilis project

19.09.2012 - Mutabilis has received €4m funding from the European Union under its FP7 programme.

The project, submitted by the French specialist for infectious diseases, is called "HIVINNOV – generation of a new class of antiretrovirals targeting HIV-cellular cofactors interactions". Mutabilis, which is the coordinator of the €10.8m project, formed the consortium in July 2011 comprising eleven research institutions from across Europe. "The Commission was apparently very impressed with the major advances we have made with the compounds we are developing, as well as the quality of the consortium and the research projects proposed," said the scientific director of Mutabilis, Dr. Richard Benarous.

Mutabilis was founded in 2001 to develop new antibiotic treatments.  The French company raised €11.8m in two financing rounds in 2002 and 2004. Mutabilis runs different collaborations, amongst others with German drug developer 4SC. In 2009 FAB Pharmaceuticals SAS acquired Mutabilis lead compound Fab-001, which is a marrow- spectrum antibiotic targeting the fatty acid biosynthesis in S. aureus. Since 2010, the company has been an affiliate of Pharma Omnium International.

The European Union's seventh framework program (FP7), which has been allotted a total budget of €50.5bn for the 2007-2013 period, brings together all the EU's research initiatives under one roof and plays an important role in achieving its growth, competitiveness and employment targets. A budget of €6.05 billion has been assigned to cooperation in human health.

© eurobiotechnews.eu/pd

http://www.european-biotechnology-news.com/news/news/2012-03/commission-funds-mutabilis-project.html

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