Genflow Biosciences Ltd (LSE:GENF, OTCQB:GENFF, FRA:WQ5) has received the first instalment of its €4 million non-dilutive grant from Belgium’s Wallonia Region, a funding package designed to support a three-year development programme.
The company said the grant will back ongoing work on its lead gene therapy candidate, GF-1002, including development activity in MASH, with the initial payment applied to eligible project-related costs.
Genflow added that further instalments are expected to be paid in line with an agreed milestone and disbursement schedule, providing staged support as the programme progresses.
Chief executive Dr Eric Leire said the first payment strengthens the group’s ability to deliver against planned development milestones, with subsequent tranches due under the existing framework.