MaaT Pharma, Leader in Development of Microbiome-Based Therapies in Oncology, Awarded Government Funding for Clinical Development of MaaT033 as part of the France 2030 Plan
- MaaT Pharma secures important funding in line with one of the goals under the Health Innovation 2030 Plan, the health component of ‘France 2030’, led by the Health Innovation Agency dedicated to accelerating the national strategy for the production of biotherapies and innovative therapies with the goal of producing at least 20 biomedicines in France.
- MaaT Pharma is set to receive €7.4 million from the Government over two years, with initial payments extending the company’s financial runway until the end of the second quarter of 2024, subject to achievement of project milestones. This will result in a net cash boost of €3.1 million in the first half of 2024, following a restructuring of previous funding related to the immuno-oncology program (METIO).
- The funding was announced today in a video made by the Ministry of Industry, at the official opening ceremony of the manufacturing facility constructed for MaaT Pharma in partnership with Skyepharma.
Lyon, France, November 30, 2023 – 6:00 pm CET – MaaT Pharma (EURONEXT: MAAT – the “Company”), a clinical-stage biotechnology company and a leader in the development of Microbiome Ecosystem TherapiesTM (MET) dedicated to improving survival outcomes for patients with cancer, announced today that its ongoing Phase 2b trial, called Phoebus, aimed at evaluating MaaT033 to improve overall survival for patients receiving allo-HSCT2 has been selected for funding, in response to the ‘Innovation in Biotherapy and Bioproduction’ call for projects from the ‘Biotherapies and Bioproduction of Innovative Therapies’ acceleration strategy, operated by Bpifrance. (project called: METALLO[1]).
“We’re honored to receive this funding, contributing to France’s leadership in innovative biotherapies. This is consistent with announcements from the French government in accelerating production of biomedicines in France. We thank the Ministry of Industry for its support during the official opening of the new manufacturing facility constructed and operated in partnership with Skyepharma” commented Siân Crouzet, CFO of MaaT Pharma.
MaaT Pharma’s MaaT033 program is an ambitious project aimed at using MaaT033 in a larger market in a chronic and ambulatory setting for patients receiving allo-HSCT[2] during blood cancer treatment. MaaT Pharma is set to receive €7.4 million in funding for a project totaling €16.4 million over a 23-month period. The restructuring of these grants has no impact on the development of the Company’s immuno-oncology program, and MaaT Pharma is advancing its preclinical and clinical activities in the field of immuno-oncology as planned.
MaaT Pharma is currently in the process of seeking other sources of debt or equity financing, or partnering transactions, to supplement its working capital requirements and finance its operating expenses beyond the second quarter of 2024, its current financial runway.
[1] Development of the first European innovative Microbiome Ecosystem Therapies in ALLO-HSCT
[2] Allogeneic Hematopoietic Stem Cell Transplantation
About France 2030
- Translates a dual ambition: to durably transform key sectors of France’s economy (energy, automotive, health, aerospace, and space) through technological and industrial innovation and to position France not only as a participant but as a leader in the world of tomorrow. From fundamental research to the emergence of an idea and through to the production of a new product or service, France 2030 supports the entire lifecycle of innovation up to its industrialization.
- Is unprecedented in its scope: 54 billion euros will be invested to ensure that French companies, universities, and research organizations fully succeed in their transitions in these strategic sectors. The goal is to enable them to competitively address the ecological challenges and attractiveness of the coming world and to foster the emergence of future champions in our fields of excellence to strengthen French sovereignty and independence in key sectors. 50% of the expenses will be dedicated to decarbonizing the economy, and 50% will be allocated to emerging actors, promoting innovation without any significant adverse impact on the environment (in accordance with the Do No Significant Harm principle).
- Will be implemented collectively: the plan is designed and deployed in consultation with economic, academic, local, and European stakeholders who have contributed to defining both the strategic directions and flagship actions. Project leaders are invited to submit their applications through open, rigorous, and selective procedures to benefit from state support.
- Is overseen by the General Secretariat for Investment on behalf of the Prime Minister and implemented by the Agency for Ecological Transition (ADEME), the National Research Agency (ANR), Bpifrance, and the Caisse des Dépôts et Consignations (CDC).
For more information, visit: France 2030 website I @SGPI_avenir
About MaaT Pharma
MaaT Pharma, a clinical stage biotechnology company, has established a complete approach to restoring patient-microbiome symbiosis in oncology. Committed to treating cancer and graft-versus-host disease (GvHD), a serious complication of allogeneic stem cell transplantation, MaaT Pharma has launched, in March 2022, an open-label, single arm Phase 3 clinical trial in patients with acute GvHD, following the achievement of its proof of concept in a Phase 2 trial. Its powerful discovery and analysis platform, gutPrint®, enables the identification of novel disease targets, evaluation of drug candidates, and identification of biomarkers for microbiome-related conditions. The company’s Microbiome Ecosystem Therapies are produced through a standardized cGMP manufacturing and quality control process to safely deliver the full diversity of the microbiome, in liquid and oral formulations. MaaT Pharma benefits from the commitment of world-leading scientists and established relationships with regulators to support the integration of the use of microbiome therapies in clinical practice. MaaT Pharma is listed on Euronext Paris (ticker: MAAT).
Forward-looking Statements
All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.
