Business
Innovate UK Grant Award
Innovate UK Grant Award.
About this update from Crism Therapeutics Corporation
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n27 March 2025\n \n\n \nCRISM Therapeutics Corporation\n(\"CRISM\", \"CRISM Therapeutics\" or the \"Company\")\n \nInnovate UK Grant Award\n \nCRISM Therapeutics Corporation (AIM: CRTX), the innovative UK drug delivery company focused on the localised delivery of chemotherapy drugs, is pleased to announce that it has been awarded a grant by Innovate UK to support the pre-clinical development of the Company's proprietary ChemoSeed technology in prostate cancer (the \"Project\"). The Project is in line with the Company's strategy as detailed in the admission document published when CRISM joined the Aim market last year and which highlighted the potential of ChemoSeed in multiple disease areas.\nThe Innovate UK grant was awarded as part of the Government's 'Launchpad: life and health sciences, Northern Ireland - Rd2 MFA'. Under the terms of the grant, CRISM will develop a docetaxel-loaded implantable drug delivery technology (\"docetaxel ChemoSeed\") for intraprostatic chemotherapy, addressing the critical need for localised, effective, and less toxic prostate cancer treatment. \nDocetaxel ChemoSeed is differentiated from other approaches in that it is implanted inside the prostate, overcoming the non-lipophilic characteristics of the prostate which prevent traditional chemotherapy from having a therapeutic effect.\nThe Project, which will take about 12 months, is designed to deliver:\n· A functional prototype of the implantable device.\n· Pre-clinical validation data demonstrating safety and efficacy.\n· IP protection through patents for core innovations.\n· Scalable manufacturing protocols for commercialisation.\nThe outputs from the Project will establish a foundation for the design of clinical trials, the regulatory approval pathway and market introduction, addressing a critical unmet medical need in prostate cancer therapy.\nThe total cos...