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ORION BIOTECHNOLOGY PROJECT AWARDED GRANT TO ADVANCE DRUG DISCOVERY

Orion Biotechnology Canada Ltd.
·3-min read

Genève SWITZERLAND, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Orion Biotechnology Holding SA., a biotechnology company focused on precision engineering small protein therapeutics, today announced that its drug discovery project was awarded funding of CHF 0.9M from Innosuisse, the Swiss Innovation Agency. The project will allow Orion, in collaboration with the University of Geneva, to further expand and optimize drug discovery capabilities using its novel platform. The proprietary platform driven by Dr. Oliver Hartley and his team at the University of Geneva delivers a novel approach to G Protein-Coupled Receptor (GPCR) targeting by precision-engineering natural peptide and protein analogs that bind to GPCR targets with both enhanced potency and tailored signaling activity. The Innosuisse grant funds 50 percent of the project costs, covering research to be carried out collaboratively by Orion Biotechnology and the University of Geneva.

“We are very excited to receive this grant from Innosuisse, which will contribute to further innovative research & development under our drug discovery platform,” stated Mark Groper, CEO of Orion Biotechnology Holding SA and President of Orion Biotechnology Canada. “This support will advance our new approach to GPCR-targeting and accelerate the development of next generation therapeutics. Orion’s platform technology has demonstrated its ability to generate first-in-class GPCR-targeted therapeutics with best-in-class potency. This Innosuisse-funded project will further enhance Orion’s ability to target valuable GPCRs that have proved challenging using established discovery approaches.”

About Orion Biotechnology Holding SA Orion Biotechnology Holding SA, is a biotechnology company focused on the discovery and development of precision engineered small protein therapeutics – a promising new class of drugs designed to modulate immune response and deliver the next generation of immunotherapy treatment for cancer and other serious diseases. Leveraging its proprietary drug discovery platform to facilitate rapid and low-cost development of its molecules, Orion is pursuing a range of novel targets including chemokine and other G-Protein Coupled Receptors (GPCR’s). Our close ties to diverse institutions and experts around the globe, as well as our proprietary drug discovery platform, continue to stimulate the rapid discovery of promising new treatments. Orion Biotechnology Holding SA is subsidiary of Orion Biotechnology Canada. Learn more at www.orionbiotechnology.com.

Forward-Looking Statements

This press release contains forward-looking information, which reflects Orion’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Orion’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. These forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, Orion assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CONTACT: Anatole Klepatsky Orion Biotechnology Holding SA. +41 79 266 9334 anatole.k@orionbiotechnology.com