Crossject is awarded a 6.9 million euros financing from the French Government, as part of the France 2030 innovation plan, to accelerate the development of ZENEO® Epinephrine
- Key contribution to the acceleration of the development of ZENEO® Epinephrine
- Financial support includes mainly grants, as well as subsidized loans
- France 2030 Plan dedicated to supporting French companies demonstrating outstanding growth and innovation potential
/EIN News/ -- Dijon, France, July 10th, 2024 07:30 CET -- Crossject (ISIN: FR0011716265; Euronext: ALCJ), a specialty pharma company in advanced phases of development and registration for ZEPIZURE®, its emergency treatment for the management of epileptic crises based on its award-winning needle-free auto-injector ZENEO®, announces that it has been awarded €6.9 million in public funding as part of the "i-Démo" call for projects under the France 2030 Plan, operated by Bpifrance on behalf of the French Government.
The France 2030 plan aims at supporting French companies that demonstrate exceptional potential for growth and innovation. It will support Crossject's innovative project to accelerate the development of its ZENEO® Epinephrine1 needle-free autoinjector, and save lives thanks to this new emergency treatment administered by a patient or its family in the event of severe allergic reactions (anaphylactic shock).
The project, which runs until 2026, consists of subsidies for 60% of the total, and of subsidized loans for the remainder, with an initial payment of 1.7 million euros scheduled in the coming weeks, a development milestone of 4 million euros expected in August 2025 and the balance at the end of the project in 2026. The product is expected to generate cumulative sales of around 1 billion euros by 2032 for Crossject and its distributors, contribute to the creation of more than 160 jobs over the period 2024-2032, and support Crossject's actions to reduce the carbon footprint of ZENEO® Epinephrine. The project was also certified by the French cluster PMT.
The drug solution in ZENEO® Epinephrine is innovative and patented by Crossject (FR3095122B1, WO2020212381A1). Importantly, it relies on a proprietary sulfite-free formulation. Sulfites are used as preservatives in many current products and are known to trigger intolerance, or even allergy, which can lead to an anaphylactic shock, the very event that needs to be treated. Moreover, Crossject’s new solution shows superior shelf-life performance and should enable a longer stability period compared to current drugs. The formulation developed by Crossject should hence not only reassure patients about the risk of drug-related allergy, but also meet their strong need for a simpler device that can be kept for longer.
In addition, the ZENEO® auto-injector ensures a simple, complete injection of the entire dose in just a few milliseconds, with negligible residual volume. This should be a significant advantage over needle-based systems on the market.
Patrick Alexandre, CEO of Crossject, declared: « We are honoured to be supported by the France 2030 innovation Plan. It bears witness to the innovative nature of our know-how and the impact that our innovations can have on healthcare. I would like to thank the French Government for its confidence, which reinforces the strategic dimension and promise of our needle-free injection technology. This financing will enable us to accelerate our research and development efforts to bring ZENEO Epinephrine® to market and save lives in the field of anaphylactic shock. »
Crossject plans to file marketing authorization applications for ZENEO® Epinephrine in 2026 with regulatory authorities in Europe and the United States.
Virginie Fontaine, Head of Healthcare Innovation at Bpifrance, added: « We are delighted to support Crossject's ZENEO® Epinephrine development project, derived from its unique expertise in needle-free injections. This high-quality clinical program brings together recognized national players and jointly answerss a strong medical need and an issue of industrial sovereignty. This innovation in the field of emergency treatments is fully in line with the French Government's healthcare priorities. »
About Crossject
Crossject SA (Euronext: ALCJ; www.crossject.com) is an emerging specialty pharmaceutical company developing medicines for emergency situations harnessing its award-winning needle-free auto-injector ZENEO® platform. Crossject is in advanced regulatory development for ZEPIZURE®, an epileptic rescue therapy, for which it has a $60 million contract* with the U.S. Biomedical Advanced Research and Development Authority (BARDA). The Company’s versatile ZENEO® platform is designed to enable patients or untrained caregivers to easily and instantly deliver a broad range of emergency drugs via intramuscular injection on bare skin or even through clothing. The Company’s other products in development include mainly solutions for allergic shocks and adrenal insufficiencies, as well as therapies and other emergency indications.
* Contract no: 75A50122C00031 with the Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Research and Development Authority
About the France 2030 Investment Plan
- A double ambition: to transform key sectors of our economy (healthcare, energy, automotive, aeronautics and space) over the long term through technological innovation, and to position France not just as a player, but as a leader in tomorrow’s world. From fundamental research, to the emergence of an idea, up to the production of a new product or service, France 2030 supports the entire life cycle of innovation from its inception right through to industrialization.
- An unprecedented commitment: 54 billion euros will be invested so that our companies, universities and research organizations can make successful transitions to these strategic sectors. The aim is to enable them to respond competitively to the ecological and attractiveness challenges of the coming world, and to create the future leaders of our sectors of excellence. France 2030 is defined by two cross-functional objectives: to devote 50% of its spending to decarbonizing the economy, and 50% to emerging, innovative players, without spending money that is detrimental to the environment (« Do No Significant Harm »).
- A collaborative implementation: it is designed and deployed in consultation with economic, academic, local and European players, to determine its strategic orientations and flagship actions. Project leaders are invited to submit their applications via open, demanding and selective procedures, in order to benefit from government support.
- Managed by the « Secrétariat général pour l’investissement » on behalf of the Prime Minister and implemented by the « Agence de la transition écologique (ADEME) » and the « Agence nationale de la recherche (ANR) », by Bpifrance, and by the Caisse des Dépôts et Consignations (CDC).
About Bpifrance Bpifrance finances French companies - at every stage of their development - with credit, loan guarantees and equity capital. Bpifrance supports them in their innovation and international projects. Bpifrance now also covers their export activities through a wide range of products. Consulting, university, networking and acceleration programs for startups, SMEs and Mid-caps are also part of the offer available to entrepreneurs from Bpifrance. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a single, close and efficient contact to help them meet their challenges.
For further information, please contact:
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Investisseurs Natasha Drapeau Cohesion Bureau +41 76 823 75 27 natasha.drapeau@cohesionbureau.com |
Média Sophie Baumont Cohesion Bureau +33 6 27 74 74 49 sophie.baumont@cohesionbureau.com |
1 Epinephrine is known as adrénaline in Europe.
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