The Umeå-based biotech company is leading a European consortium and will use the funding to support a Phase II proof-of-concept study of its drug candidate SOL-116 for the treatment of rheumatoid arthritis.
SOL-116 is a humanized monoclonal antibody targeting Bile Salt-Stimulated Lipase (BSSL), a novel therapeutic target identified by Lipum. The funding will help accelerate the company’s clinical development programme and advance a potential new treatment option for patients living with chronic inflammatory diseases.
The grant underlines the long-term potential of innovations emerging from Umeå’s life science environment. It demonstrates how companies can continue to develop and attract significant international funding beyond the incubation phase.
Read the full announcement from Lipum: LINK