ABIVAX completes the second milestone in CaReNa, a “Strategic Industrial Innovation Project” supported by Bpifrance
ABIVAX completes the second milestone inCaReNa, a “Strategic Industrial Innovation Project” supported by Bpifrance
Paris, September 13th 2016 – ABIVAX (Euronext Paris : FR0012333284 – ABVX), an innovative biotechnology company targeting the immune system to eliminate viral disease reported that it has completed the second key milestone of the Strategic Industrial Innovation Project CaReNa.
Started in 2013, this collaborative project led by ABIVAX with the participation of CNRS and Theradiag intends to develop new therapeutic and diagnostic solutions targeting the protein-RNA interactions with HIV/AIDS as the primary indication. The total cost of the project is 18.2 M€, of which 13.6 M€ will be born by ABIVAX. The project benefits from the help of Bpifrance in form of refundable loans and subsidies totaling 7.3 M€, of which 5.2 M€ are used in ABIVAX operations. So far, the Company has received 3.4 M€ and 1.8 M€ are still to come before the end of 2018.