MaaT Pharma, Leader in Development of Microbiome-Based Therapies in Oncology, Awarded Government Funding for Clinical Development of MaaT033 as part of the France 2030 Plan
01 December 2023 - 4:00AM
Business Wire
- MaaT Pharma secures important funding in line with one of the
goals under the Health Innovation 2030 Plan, the health component
of 'France 2030', led by the Health Innovation Agency dedicated to
accelerating the national strategy for the production of
biotherapies and innovative therapies with the goal of producing at
least 20 biomedicines in France.
- MaaT Pharma is set to receive €7.4 million from the Government
over two years, with initial payments extending the company's
financial runway until the end of the second quarter of 2024,
subject to achievement of project milestones. This will result in a
net cash boost of €3.1 million in the first half of 2024, following
a restructuring of previous funding related to the immuno-oncology
program (METIO).
- The funding was announced today in a video made by the Ministry
of Industry, at the official opening ceremony of the manufacturing
facility constructed for MaaT Pharma in partnership with
Skyepharma.
Regulatory News:
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231130025948/en/
MaaT Pharma (EURONEXT: MAAT – the “Company”), a
clinical-stage biotechnology company and a leader in the
development of Microbiome Ecosystem TherapiesTM (MET) dedicated to
enhancing survival for patients with cancer, announced today
that its ongoing Phase 2b trial, called Phoebus, aimed at
evaluating MaaT033 to improve overall survival for patients
receiving allo-HSCT2 has been selected for funding, in response to
the 'Innovation in Biotherapy and Bioproduction' call for projects
from the 'Biotherapies and Bioproduction of Innovative Therapies'
acceleration strategy, operated by Bpifrance. (project called:
METALLO1).
“We're honored to receive this funding, contributing to France's
leadership in innovative biotherapies. This is consistent with
announcements from the French government in accelerating production
of biomedicines in France. We thank the Ministry of Industry for
its support during the official opening of the new manufacturing
facility constructed and operated in partnership with Skyepharma”
commented Siân Crouzet, CFO of MaaT Pharma.
MaaT Pharma’s MaaT033 program is an ambitious project aimed at
using MaaT033 in a larger market in a chronic and ambulatory
setting for patients receiving allo-HSCT2 during blood cancer
treatment. MaaT Pharma is set to receive €7.4 million in funding
for a project totaling €16.4 million over a 23-month period. The
restructuring of these grants has no impact on the development of
the Company's immuno-oncology program, and MaaT Pharma is advancing
its preclinical and clinical activities in the field of
immuno-oncology as planned.
MaaT Pharma is currently in the process of seeking other sources
of debt or equity financing, or partnering transactions, to
supplement its working capital requirements and finance its
operating expenses beyond the second quarter of 2024, its current
financial runway.
About France 2030
- Translates a dual ambition: to durably transform key
sectors of France’s economy (energy, automotive, health,
aerospace, and space) through technological and industrial
innovation and to position France not only as a participant but
as a leader in the world of tomorrow. From fundamental research
to the emergence of an idea and through to the production of a new
product or service, France 2030 supports the entire lifecycle of
innovation up to its industrialization.
- Is unprecedented in its scope: 54 billion euros will be
invested to ensure that French companies, universities, and
research organizations fully succeed in their transitions in these
strategic sectors. The goal is to enable them to competitively
address the ecological challenges and attractiveness of the
coming world and to foster the emergence of future champions in our
fields of excellence to strengthen French sovereignty and
independence in key sectors. 50% of the expenses will be
dedicated to decarbonizing the economy, and 50% will be allocated
to emerging actors, promoting innovation without any significant
adverse impact on the environment (in accordance with the Do No
Significant Harm principle).
- Will be implemented collectively: the plan is designed and
deployed in consultation with economic, academic, local, and
European stakeholders who have contributed to defining both the
strategic directions and flagship actions. Project leaders
are invited to submit their applications through open, rigorous,
and selective procedures to benefit from state support.
- Is overseen by the General Secretariat for Investment on
behalf of the Prime Minister and implemented by the Agency for
Ecological Transition (ADEME), the National Research Agency
(ANR), Bpifrance, and the Caisse des Dépôts et
Consignations (CDC).
For more information, visit: France 2030 website I @SGPI_avenir
About MaaT Pharma
MaaT Pharma, a clinical-stage biotechnology company, has
established a complete approach to restoring patient-microbiome
symbiosis in oncology. Committed to treating cancer and
graft-versus-host disease (GvHD), a serious complication of
allogeneic stem cell transplantation, MaaT Pharma has launched, in
March 2022, an open-label, single-arm Phase 3 clinical trial in
patients with acute GvHD, following the achievement of its proof of
concept in a Phase 2 trial. Its powerful discovery and analysis
platform, gutPrint®, enables the identification of novel disease
targets, evaluation of drug candidates, and identification of
biomarkers for microbiome-related conditions. The company’s
Microbiome Ecosystem Therapies are produced through a standardized
cGMP manufacturing and quality control process to safely deliver
the full diversity of the microbiome in liquid and oral
formulations. MaaT Pharma benefits from the commitment of
world-leading scientists and established relationships with
regulators to support the integration of the use of microbiome
therapies in clinical practice. MaaT Pharma is listed on Euronext
Paris (ticker: MAAT).
Forward-looking Statements
All statements other than statements of historical fact included
in this press release about future events are subject to (i) change
without notice and (ii) factors beyond the Company’s control. These
statements may include, without limitation, any statements preceded
by, followed by or including words such as “target,” “believe,”
“expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,”
“project,” “will,” “can have,” “likely,” “should,” “would,” “could”
and other words and terms of similar meaning or the negative
thereof. Forward-looking statements are subject to inherent risks
and uncertainties beyond the Company’s control that could cause the
Company’s actual results or performance to be materially different
from the expected results or performance expressed or implied by
such forward-looking statements.
1Development of the first European innovative
Microbiome Ecosystem Therapies
in ALLO-HSCT 2Allogeneic
Hematopoietic Stem Cell Transplantation
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MaaT Pharma – Investor Relations Guilhaume DEBROAS, Ph.D.
Head of Investor Relations +33 6 16 48 92 50
invest@maat-pharma.com
MaaT Pharma – Media Relations Pauline RICHAUD Senior PR
& Corporate Communications Manager +33 6 14 06 45 92
media@maat-pharma.com
Trophic Communications Jacob VERGHESE or Priscillia
PERRIN +49 151 7441 6179 maat@trophic.eu
Media contact for the General Secretary to the Prime Minister
for Investment presse.sgpi@pm.gouv.fr *+33 (0)1 42 75 64 58
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