Braunschweig-based biotech company Corat Therapeutics has received additional funding from the federal government for the pivotal clinical trial of its antibody-based drug COR-101, which is optimized for the treatment of hospitalized COVID-19 patients with moderate-to-severe disease.
The approval of the additional funding of €38.7m will now support clinical trials at up to 50 sites in six different countries, as well as the scaling and validation of the manufacturing process in preparation for market entry and delivery. On this basis, Corat expects to be able to apply for regulatory approval in 2023.
CEO Dr. Andreas Herrmann commented: "The pandemic is not over yet. Omicron can apparently infect people several times in a row and remains a life-threatening virus that claims thousands of lives every week. We are pleased that the additional funding will allow us to accelerate our clinical trial with COR-101." The company, which was only founded in 2020, was able to win Dermapharm as a cooperation partner in 2021. In the same year Corat Therapeutics had been awarded several million in a first round of public funding by the BMBF.
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