Elasmogen, which is part of the Deepbridge Life Sciences EIS portfolio, has secured two grants worth £374,000, in attempt to support programs fighting against COVID-19 and cancer.
The first grant of £143,000 was secured in April 2020 from the Scottish Government. It was awarded to accelerate the development of new diagnostics and therapeutics for COVID-19 through Elasmogen’s drug discovery platform. As Elasmogen are a spin out of The University of Aberdeen, they found themselves caught up in the university building closures towards the end of March and had to put a halt to lab work. However, this grant allowed them to re-open their labs and attempt to help in the fight against the pandemic.
Their second award is a UKRI Continuity Grant and is providing Elasmogen additional support for their joint undertaking with Almac Discovery Ltd and their labs in Edinburgh and Northern Ireland.
Carloline Barelle, CEO at Elasmogen commented about the grants;
“We are so grateful to the UK and Scottish Governments for believing in and funding our research during such a difficult time.The team have worked so hard to achieve these successes out of what could have been a company ending break.”