Axxam receives EUR 2.3 million grant from the Italian Ministry of Research to support innovative drug discovery programs
Axxam SpA, a privately owned contract research and discovery company, announced that the Italian Ministry of Research has supported a research consortium, by awarding a EUR 12.6 million grant in order to conduct innovative drug discovery programs. This research consortium is composed by several companies and leading research institutions bringing together complementary skills and know-how for drug discovery.
At Axxam, discovery research is an integral part of the business strategy as it ensures the future generation of pre-clinical candidates for its pipeline. Working closely with research institutions and other companies is an important part of this process as it helps Axxam to remain at the forefront of new research and drives the innovation required to develop in the future more effective medicines for patients.
Axxam will receive EUR 2.3 million which represents an important first milestone to provide the company with a sustainable financing for the development of its proprietary pipeline. These funds will be used for supporting innovative discovery programs at the lead generation phase where an intense contribution of medicinal chemistry and pharmacology is required.