(Alliance News) - Genflow Biosciences PLC on Thursday said that it has received half of its grant funding from the Government of Wallonia in Belgium's Advanced Therapy Medicinal Products.
According to the London-based biotechnology company, which is focused on age-related diseases, it has received a total of EUR381,434.
Alongside partner Revatis SA, Genflow has launched a three-year sarcopenia research programme.
It said that the remaining funds from the grant would be disbursed over the next two years based on submitted invoices, and would be used as working capital to support the project.
The sarcopenia project focuses on the development of muscle progenitor cells, which will be loaded with Genflow's proprietary SIRT6 for the prevention and treatment of sarcopenia.
"Sarcopenia, the age-related loss of muscle mass and function, is a significant health issue affecting older adults worldwide. Genflow aims to counteract the detrimental effects of aging on muscle tissue with our Sarcopenia program, which holds potential for significantly improving the quality of life for older adults affected by muscle loss and weakness," said Chief Executive Officer Eric Leire.
Shares in Genflow Biosciences were up 0.4% at 3.01 pence each in London on Thursday afternoon.
By Holly Beveridge, Alliance News reporter
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