Genflow Biosciences PLC (LSE:GENF, OTCQB:GENFF), a company specialising in longevity research and therapies for age-related diseases, has secured over €4 million in financial support from the Wallonia region of Belgium.
This funding will help accelerate the development of Genflow's lead gene therapy, GF-1002, aimed at treating metabolic-associated steatohepatitis (MASH), a severe liver disease with few treatment options.
The package consists of two parts: a non-repayable research grant of €1.2 million, which will cover 70% of the company’s research expenses, and a recoverable advance of €2.8 million, to be repaid to Wallonia once GF-1002 is commercialised for MASH treatment.
The advance will fund 55% of Genflow’s development costs. The funding is expected to cover three years of work on GF-1002, with the first instalment to be used as working capital.
This funding is a significant milestone for Genflow, as it allows the company to push forward with its clinical development of GF-1002.
The therapy represents a new approach to treating MASH, a condition affecting the liver that often progresses to more serious complications. With limited existing treatments for MASH, the company hopes to address a critical gap in healthcare.
CEO Eric Leire said: "We are delighted to receive this substantial financial backing from the Wallonia region as it is an important validation of our research and development efforts.
"It will allow us to further the development of GF-1002 and strengthen our position at the forefront of gene therapy innovation for MASH treatment. We would like to sincerely thank the Wallonia region for its support."