oslo, norwayJanuary 18th 2024 – Sursio Holding ASA (OSE: CRNA) today present Business Finland has approved Circio’s request for full forgiveness of three R&D loans. 6.2 million euros Granted for the development of ONCOS-102. As a result, Circio’s capital increases by a corresponding amount.
work Finland is a public institution that funds companies’ research and development activities. Finland. Targovax OyThe company, a wholly-owned Finnish subsidiary of Circio Holding ASA, received a total of three loans from Business Finland in 2010, 2012 and 2013 for the development and commercialization of ONCOS-102. 6 euros 209 888. The loan was repayable over 10 years from 2021 to 2031 and the current interest rate was 1.25% per annum.
In 2023, Circio made the strategic decision to prioritize and accelerate preclinical development of its innovative circular RNA (circRNA) platform and discontinue the ONCOS-102 program. Following this decision, Circio applied for forgiveness of his three ONCOS-102 loans.upon January 15, 2024, Business Finland approved the application and granted forgiveness of the entire amount of unpaid principal and future interest on the three loans. Waiver is conditioned upon termination and liquidation of the ONCOS-102 program and its associated intellectual property. Targovax Oyis ongoing in cooperation with the relevant authorities. Finland.
Dr. Rubor HaarCFO of Circio Holding ASA, said: “The Business Finland Loan was granted to:” Oncos Therapeutics Oi Over 10 years ago, Targovax Group after acquisition Oncos Therapeutics We are very grateful for the goodwill and flexibility shown by Business Finland in waiving these loans, which will allow us to develop a ground-breaking circVec platform that has the potential to disrupt the genetic medicine and vaccine fields. You can now fully commit your resources to ”
About Business Finland
work Finland is a government agency that aims to finance innovation and promote trade, travel and investment. Finland. For more information: https://www.businessfinland.fi/en/for-finnish-customers/home.
For more information, please contact us below.
Eric Digman Wiklund
CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com
Renate Birchelliinvestor relations
Phone: +47 922 61 624
Email: renate.birkeli@circio.com
About Circio
Building next-generation RNA therapeutics
Circio Holding ASA is a biotechnology company developing novel circular RNA and immunotherapy drugs.
Circio has established a proprietary circular RNA (circRNA) platform to develop new circRNA medicines for rare diseases, vaccines, and cancer. The unique circVec technology is based on a modular gene cassette design for efficient biosynthesis of multifunctional circRNAs from DNA and viral vectors and can be deployed for many purposes. The circVec platform has demonstrated enhanced and more durable protein expression than classic mRNA vector systems and may become the new gold standard for DNA and virus-based therapeutics in the future. circRNA R&D activities are carried out by a 100% subsidiary Sursio AB On the basis of Karolinska Institute in stockholm sweden.
Additionally, Circio is developing a cancer vaccine, TG01, that targets KRAS driver mutations. TG01 is currently being tested in three clinical trials. In the US he has RAS mutant pancreatic cancer, lung cancer and unresectable pancreatic cancer, and in the US he has multiple myeloma. Norway.These studies are supported by Innovation Norway and Norwegian Research Councilcreate program readout and future options in Circio at low cost.
This information is considered inside information in accordance with the EU Market Abuse Regulation and is subject to disclosure requirements under Section 5-12 of the Norwegian Securities Exchange Act. Stock exchange announcements have been announced. Renate BirchelliInvestor Information, Circio Holding ASA.
https://news.cision.com/circio/r/circio-receives-waiver-of-eur-6-2-million-in-loans-from-business-finland,c3911378
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