Pure Biologics may receive approximately PLN 70 million in non-returnable subsidies by the end of 2023

By the end of 2023, Pure Biologics may receive over PLN 70 million of non-diluting capital in the form of non-returnable subsidies for R&D projects in the current Pure Biologics portfolio, the company said. The company's liquidity position at the end of 2021 was very good and stable. The balance of cash and deposit equivalents at the end of December 2021 amounted to almost PLN 33 million, it was also announced.

Throughout the year, R&D was carried out in accordance with the assumed budgets and there was no one-off event that would result in unexpected expenditure of a significant amount, it was stated.

“The past year has been spent on intensive work in laboratories and building business relationships with partners all over the world. We are very pleased with the progress made in both areas. As expected, we as a company entered the stage of preclinical research in animal models. Our first pilot experimental panel in the PB001 project, which took place in the first half of the year, ended with good results in terms of the safety of the assumed operating mechanism. In the PB002 project, we conducted the first animal study of a technical nature, thanks to which we determined certain parameters necessary for further planned experimental steps. The other projects are also approaching the preclinical development phase. 2022 will surely be a crucial year for most of them, ”said the president of Pure Biologics, Filip Jeleń, quoted in the release.

Pure Biologics is a Polish biopharmaceutical company focused on discovering and developing biological drugs and developing extracorporeal therapies. The company conducts research using its own technological platforms for the selection of active particles - antibodies and aptamers. In December 2020, the company transferred its listing to the main market of the WSE from the NewConnect market, where it was listed since December 2018.

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