Genflow Biosciences PLC (LSE:GENF, OTCQB:GENFF) confirmed that it has been awarded roughly €4 million in non-dilutive financial support from the Wallonia region of Belgium to support the development of its lead gene therapy candidate to treat metabolic-associated steatohepatitis (MASH).
The therapy, known as GF-1002, has been promised a support package over a three-year development program, fitting the company's existing clinical roadmap.
All project-related expenses incurred in 2025 will be considered eligible for financial support.
While the first payment from the government has not yet been received, due to routine administrative processes, the company said it has taken proactive steps to ensure the continuity of the GF-1002 program.
CEO Eric Leiret said Genflow remained "fully focused on advancing GF-1002 through the next stage of development and has ensured that operations proceed uninterrupted as the program moves forward", with no delays to planned research or development activities.
He said the €4 million of funding, first announced in October 2024, "represents a significant endorsement of our science and our strategy".