October 6, 2020 – Elthera is pleased to announce that it has been awarded a non-dilutive grant from the Swiss Innovation Agency (Innosuisse) with a total budget of more than CHF 1.0 M. In collaboration with the Institute of Oncology Research (IOR) in Bellinzona (Switzerland), Elthera will use the grant to validate the target L1CAM in rare types of cancer.
Gunther Spohn, CSO of Elthera, commented: “We are excited to initiate this collaboration with IOR, one of the most renowned cancer research organizations in Switzerland. The Innosuisse funds will allow us to explore the therapeutic potential of our anti-L1CAM compounds in rare types of cancer, which are not adequately treated with current therapies. By combining Elthera’s knowledge in the development of therapeutic antibodies and IOR’s expertise in basic and translational research in rare cancer types we aim to develop new efficacious immunotherapies for diseases, which are often neglected by global drug development companies.”
Prof. Francesco Bertoni, Deputy Director of IOR, commented: “The collaboration with Elthera will allow us to elucidate the role of L1CAM in the development and progression of rare malignancies, where a high medical need for better treatment exists. By elucidating L1CAM-dependent disease mechanisms and establishing the efficacy of Elthera’s anti-L1CAM compounds in preclinical disease models, we aim to lay the ground for new and better therapies for the affected patients.”