Regenics’ have recieved a series of public grants supporting development of Vernex® wound healing hydrogel from a.o. Eurostars, BIA, PES2020, Innovation Norway and SkatteFUNN.

The total granted amounts to approx. 21 mill NOK with present funding programs (below) active until 2018.

Present ongoing support programs:

BIA: Proj. no.: 245553 Bioactive salmon roe substances in wound healing.

Eurostars: Proj. no.:   247714 E!9477 Development of wound healing device with salmon roe wound healing ingredient

IN addition: PES2020: SME Instrument 2 above treshold support.

Innovation Norway: Risk loan 2.5 mill NOK granted (unused p.t.)

New support programs (in process):

Eurostars: New application submitted September 18th 2017

Horizon 2020: SME Instrument 2 application June 2017 and October 2017

In the period 2015 - 2017 the cash funded from the above sources equal to aprox. 15 mill NOK, total project cost thus is approx. 30 mill NOK. 

Skattefunn: The present Skattefunn support period covers 2016-2017-2018 and grants 20% of total R&D spend (in October the following year of the fiscal spend) and is approx. 1.5-1.8 mill NOK/y on the present R&D spend level. In the Companys Annual Reports, Skattefunn is listed as a deduction of operational costs. 

Additional capital raises for R&D:

The founders and present management have additionally contributed with approx. 12 mill NOK in share capital and 4 mill NOK in long term loans to fund the R&D programs.

 

The prospective profile of Vernex® will support scientifically documented and patented claims:

  • VERNEX® speeds up reepitelialization of wounds
  • VERNEX® skin safety tested
  • VERNEX® causes no irritation or sensitization
  • VERNEX® delivered as hydrogel formulation
  • VERNEX® increases fibroblast migration
  • VERNEX® increases collagen synthesis
  • VERNEX® enhances hyaluronic acid secretion
  • VERNEX® increases elastin production

Regenics AS has developed a number of assays and techniques to study effects of various substances on skin cells both in vitroin vivo and in the clinic. Our focus is to develop products and techniques for therapeutic skin applications and to improve skin appearance.