LONDON – Cardiogeni PLC, a UK-based biotechnology firm, has reached a Memorandum of Understanding (MoU) with the Private Office of Sheikh Al Qassimi, securing a £20 million investment for clinical trials focused on heart failure treatments in the United Arab Emirates. This partnership aims to address the widespread issue of heart failure in the Gulf Cooperation Council (GCC) states.
The MoU, which outlines a funding plan from 2025 to 2027, will start with a £5 million investment in the first half of 2025.
The remaining funds will be used for the clinical development of Cardiogeni’s heart failure medicines through Phase 2b/3 trials. The joint venture will also involve specialized manufacturing and commercialization efforts in the GCC region, which includes the UAE, Saudi Arabia, Oman, and Bahrain.
Dr. Darrin M. Disley OBE, Executive Chairman of Cardiogeni, welcomed the partnership, emphasizing its potential to advance the company’s heart failure treatments through essential human trials in a region known for its strong medical research capabilities.
The MoU is non-binding but sets a goal to negotiate a formal license agreement by March 31, 2025. After securing the initial investment, Cardiogeni plans to provide updates on the clinical development program, funding schedule, and projected timelines for accelerating the development of its heart failure therapies.
Cardiogeni’s leading product, CLXR-001, is a patented cellular medicine designed to treat heart failure during coronary artery bypass grafting surgery. Developed using a platform technology from Nobel Laureate Professor Sir Martin Evans, CLXR-001 has shown positive results in a Phase II trial in the EU, improving heart function and patient quality of life.
This partnership represents a crucial step for Cardiogeni in tackling a major health challenge in the GCC region, which has a high unmet need for effective heart failure treatments. The company will continue to update shareholders as more details become available.
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