2.3 million grant awarded by the Ministry of the Economy of Luxembourg (MECO)
Flen Health specialising in advanced solutions for wound and skin healing was awarded a 2.3 million research, development, and innovation grant by the Ministry of the Economy of Luxembourg (MECO)
Esch-sur-Alzette, 14th January 2022: Flen Health is proud to announce that it has been awarded a 2.3 million research, development, and innovation (RDI) grant, by the Ministry of the Economy of Luxembourg. This grant enables Flen Health to further leverage its leading expertise in wound and skincare research and development. It will also serve to further accelerate the deployment of its unique integrated technology and research platforms. More specifically, the activities conducted under the grant will lead to a deeper understanding of key drivers that contribute to the non-healing nature of chronic wounds. Thus, enabling cross-fertilizing the company’s growing pipeline of patented and breakthrough candidate drugs in wound and skin care.
Gilles Brackman, Vice President of Research & Development of Flen Health, commented, “We are very pleased with the financial support and recognition from MECO and their commitment to stimulate research, development, and innovation in the Grand Duchy of Luxembourg. Since the foundation of our research centre in Luxembourg at the end of 2017, we have significantly invested in the build-up of our research and technology platforms to generate novel therapeutics against several targets in wound and skin care. The funding will allow us to progress in our research and further develop a differentiating, novel mode of action candidate medicines. This will position Flen Health as a true innovative wound and skincare company with multiple shots at goal.”
Philippe Sollie, CEO of Flen Health, commented: “We are pleased that MECO has recognised the breakthrough science that will enable us to discover and develop therapeutic programs aiming to transform the lives of patients with chronic skin and wound care diseases. We are well-positioned to increasingly push our ambitious goal to develop potentially transformative treatments supporting patients to live the life they love.”
Flen Health has been the recipient of a similar grant in the past. This grant has contributed to the pre-clinical research and development of new and innovative technologies, which are continuing the task of answering unmet needs for specific skin disorders. A patent application has been filed.
Flen Health is an international family enterprise with affiliates in Europe, the US, and UAE as well as strategic partnerships and distributor agreements worldwide. These allow Flen Health to develop and market medical devices and pharmaceutical products that meet its original mission in providing innovative skin and wound healing solutions to address unmet patient needs. In recent years, Flen Health was labelled as an EU innovative company and has secured millions of non-dilutive funding for R&D activities both within its own innovation centres as well as in collaboration with academic and institutional partners.