ORCA Therapeutics Receives up to € 5 Million Innovation Credit from Dutch Government
ORCA Therapeutics BV announced that it has received an innovation credit of up to € 5 million from Agentschap NL, an agency executing programmes for the Dutch Ministry of Economic Affairs, Agriculture and Innovation, to support development of its lead compound ORCA-010 for prostate cancer.
The innovation credit is a credit facility from Agentschap NL dedicated to highly innovative projects. Under the terms of the agreement, ORCA receives € 1,058,000 to support the initial stage of the project, with the outlook for additional funding up to € 5 Million upon successful completion of specific milestones. The credit will become repayable subject to the commercial success of the project.
ORCA-010 is a new, highly potent oncolytic adenovirus that can target multiple cancer indications. ORCA-010 is based on ORCA’s proprietary T1 technology. Preclinical studies have demonstrated that ORCA-010 has superior oncolytic potency as compared to current state of the art oncolytic adenoviruses in a variety of cancer cell lines.
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