Atrogi is one of a few companies to be selected for a prestigious grant from Eurostars, an initiative of the European Commission that promotes research, and the intergovernmental innovation network EUREKA. The application was done in consortium with Stockholm University, Maastricht University, the Latvian Institute of Organic Synthesis and Excellerate Bioscience. The grant awarded is approx. 1 million EUR.
“We are very proud to we receive this grant and see it as a recognition of our unique discovery of receptor signaling. Our project was ranked 31 out of 449 applications, and this funding will be important for our development of a new treatment for obesity,” said Alexandra Ekman Ryding, CEO of Atrogi.
Eurostars is a funding and support programme for European research-based small and medium companies’ development of innovative products and services. The programme, which has a 1.14 billion EUR budget for the period 2014-2020, is financed by the European Commission and 36 Member State budgets. The jury’s decision was based on a variety of criteria related to innovation and development, market and commercial potential, as well as expertise of the partners behind the project. This is the second time that Atrogi receives funding from Eurostars.
“Obesity is a growing public health problem and finding new forms of treatment is extremely important to us from a societal perspective. We have high hopes for this groundbreaking project that is being implemented with distinguished researchers from top-tier European universities, institutes and organizations,” said Alexandra Ekman Ryding. The project is expected to begin in this fall.