NIJMEGEN, March 1st, 2021 – Pleco Therapeutics has been granted financial support by the ION+ Innovation fund for small and medium-sized businesses in the province of Gelderland. The fund is managed by Oost NL, backed by the EU and the provincial authority. This cash injection gives a strong impetus to Pleco’s product development efforts.
According to Hester Tak, Investment Manager Health at Oost NL: “Pleco is developing a promising solution for personalised treatment and more effective care for cancer patients with poor prospects, offering patients better chances of survival. In addition, Pleco provides a valuable supplement to our Nijmegen Health cluster.”
Pleco CEO Ivo Timmermans says: “This funding will help us in further researching our medicines and bringing us closer to the market. Development of cures is a costly process and any extra impulse is quite welcome. We are very happy to have found it through ION+ and Oost NL.”
Pleco is creating a new category of medicines which do not only attack the tumour itself, but also target the underlying cause. The first set of products is being developed for patients with acute myeloid leukaemia (AML), and research on the application of these products in small-cell lung cancer (SCLC) is under way.
Pleco works with renowned academic research institutes in the US, Europe and Israel, and is looking forward to joining forces with Radboud University Medical Centre and companies at the Novio Tech Campus.