France-based MedinCell (Paris:MEDCL) has signed a contract with the Bill & Melinda Gates Foundation for up to an additional USD19m to be granted over four years, it was reported on Friday.
The grant is intended to fund preclinical activities and a phase one clinical trial for the injectable six-month bioresorbable contraceptive (mdc-WWM). In accordance with the Global Access strategy of both partners and to ensure a significant impact on women's lives, the objective is to make the product widely available.
The grant is structured in advanced instalments to include the costs that will be incurred by the project. Depending on the options chosen and on the advancement of the program, up to USD11.75m is to be raised over the next 12 months including a first tranche of USD4.75m to be paid immediately. The additional USD7.25m is likely to be collected later.
AnnJi Pharmaceutical secures FDA Fast Track Designation for AJ201 in rare neuromuscular disease
Myosin Therapeutics' MT-125 granted US FDA Fast Track designation in glioblastoma
Boehringer Ingelheim's JASCAYD (nerandomilast) IPF treatment gains Chinese regulatory approval
ACM Biolabs reports ACM-CpG Phase 1 study findings in tumour treatment
Galera Therapeutics sells dismutase mimetics portfolio to Biossil in USD108.5m agreement
Arcturus reports interim Phase 2 data for ARCT-032 in cystic fibrosis
Sanofi's efdoralprin alfa shows superior results in phase 2 study for AATD
Genflow Biosciences publishes second European patent application for SIRT6 Variant in NASH
Trellus Health signs contract with leading global CRO and expands clinical trial offerings
GSK reports positive Phase III data for low-carbon version of Ventolin inhaler
Terns Pharmaceuticals reports topline 12-week data from Phase 2 trial of TERN-601 in obesity
The Los Angeles Trust for Children's Health Appoints Dr Sarah Rodman as New Executive Director