ProtAffin awarded 1.1M euros by FFG

Austrian protein therapeutics firm ProtAffin Biotechnologie AG has been awarded funding for the development of a new therapy for inflammatory diseases called PA401. The Austrian Forschungs-Forderungs-Gesellschaft is giving financial support for the preclinical development and manufacturing scale-up of PA401. The size of the research project is 1.4 million euros ($2.2 million) and the total funding that ProtAffin will receive from the FFG is up to 1.1 million euros.

Andreas Kungl, chief scientific officer of ProtAffin, said: "we are very encouraged that the FFG is supporting the pre-clinical development of PA401 for inflammatory diseases. FFG is the largest funding organization of translational research in Austria, and this funding allows us to progress our innovative anti-inflammatory product PA401 further into preclinical development. We believe that such public initiatives in Austria are valuable in positioning the country as an emerging player in the European biotechnology industry."