Synendos Therapeutics awarded EU funding
Synendos Therapeutics AG with headquarters in Allschwil is benefiting from the financial support for which small and medium-sized enterprises can apply within the framework of Horizon 2020, a program launched by the EU. The pharma company is also supported by the start-up accelerator BaseLaunch.
Andrea Chicca, Co-founder & CEO of Synendos Therapeutics (img. Mathias Mangold)
Synendos Therapeutics AG, a company headquartered in Switzerland Innovation Park Basel Area, is developing a new class of molecules. The pharma firm intends to use these to treat anxiety and other stress related disorders. The accelerator BaseLaunch has already included the start-up in Phase II of the program. BaseLaunch is handled by BaselArea.swiss, which also manages the Switzerland Innovation Park Basel Area. Now, the European Union (EU) has also rewarded the innovative approach pursued by Synendos Therapeutics, as outlined by an article from startupticker.ch.
Synendos has been chosen among a total of 22 Swiss start-ups for the first phase of the SME program linked to Horizon 2020. This entails financial support in the form of a grant worth 50,000 euros. Moreover, these companies can then also opt to apply for Phase II, in which participating companies can receive grants of between 0.5 million and 2.5 million euros in order to launch pilot projects or grow their business.
ABBA Therapeutics from Basel also made it into the first phase of the program. The company develops antibodies aimed at helping to fight cancer. With its approach, it has also already achieved Phase I of BaseLaunch.