AlgiPharma has been awarded up to NOK 16 million from the Norwegian Research Councils Innovation Project for the Industrial Sector program for the project “Fermentation Scaleup for Manufacturing of Pharmaceutical Alginate Oligosaccharides (Algi-SCALEUP).”

The project will last for 3 years and will demonstrate commercial scale production of alginate oligomers of pharmaceutical quality through large scale cost-effective microbial fermentation with concomitant large-scale downstream processing. The project will provide AlgiPharma with an alternative source of high-grade alginates for pharmaceutical and biomedical uses, while also contributing to the stimulation of new market opportunities.

 

About AlgiPharma AS:

AlgiPharma AS is a clinical stage pharmaceutical company, founded in 2006 on decades of research and development carried out by FMC BioPolymer AS and the Institute of Biotechnology at the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway. AlgiPharma has completed 5 clinical trials with two formulations of its lead drug candidate, OligoG, to treat respiratory symptoms of cystic fibrosis.

AlgiPharma owns or licenses all relevant patents upon which the technology platform and products are developed. The company is supported by national and international research programs, and collaborates with a network of key opinion leaders, highly recognized academic institutions, research and patient organizations in Europe and USA.

AlgiPharma has received more than USD 37 million in research and development grants from EU’s 7^th framework program, Horizon 2020, and Eurostars programs, the Norwegian Research Council, Innovate UK, US Army through Congressional Earmark funding, and the Cystic Fibrosis Foundation (CFF). Please see latest award from CFF.

AlgiPharma is a privately owned company registered and domiciled in Norway.

For additional information contact:

Yngvar P. Berg, CEO: yngvar.berg@algipharma.com

Arne Dessen, COO and Chairman of the Board: arne.dessen@algipharma.com