(AOF) – Oncodesign Precision Medicine has received notification of financial assistance from the DeepTech development assistance fund. The biotech specializing in precision medicine for the treatment of resistant and metastatic cancers specifies that this fund has awarded the Animus program funding of 745,000 euros for a total project cost of 1.49 million euros for a project duration of 36 months. Animus develops proprietary methods using AI for the optimization of molecules resulting from Nanocyclix technology.
This involves selecting drug candidates more quickly.
“This aid is another strong testimony to the valuable support of our regional institutional environment and the dynamics in favor of the development of biotechnologies and in particular precision medicine in the Bourgogne Franche Comté region,” comments CEO Philippe Genne.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.