Polish biotech startup Bioceltix secures €2.5M to improve veterinary therapy

Wrocław-based biotech startup Bioceltix has signed a co-financing agreement with the Polish Agency for Enterprise Development. Additionally, it has secured around €2.53 million (PLN 11 million) in subsidies under the European Funds for a Modern Economy (FENG) program. The startup is working on a drug candidate to treat atopic dermatitis in canines, MamStartup reports.

• Bioceltix is a biotech startup which deals with the development of stem cell-based medicinal products for veterinary use. Currently, the company’s primary goal is to implement biopharmaceuticals based on allogeneic stem cells. The medicines will be primarily to serve the treatment of accompanying animals.
• Currently, Bioceltix is ​​starting an appropriate, independent, multicenter and double-masked clinical trial, the aim of which is to confirm the effectiveness and safety of the developed product. The study will be conducted in 20 clinics in Hungary, Portugal, Ireland, and Poland.
• The total value of eligible expenses in the project is approximately €4 million (PLN 17.5 million). 

About FENG Program

The European Funds for a Modern Economy program is one of the programs offered by the National Research and Development Center, under which it is possible to receive financial support for research projects, technological development, and the introduction of innovative products to the market. The 2021-2027 program is dedicated to Polish projects, providing micro, small, medium, and large enterprises with grants.