GPC Biotech and Ingenium receive joint drug discovery grant from German government.(Ingenium Pharmaceuticals AG)

GPC Biotech AG (Martinsried/Munich, Germany), focused on discovering and developing new anticancer drugs, and Ingenium Pharmaceuticals AG (Martinsried/Munich, Germany), with the therapeutic focus on pain, announced the joint receipt of a grant totaling euro 2.2 million in committed funding from the BMBF (German Ministry for Education and Research) through its BioChancePLUS program. Each company is to receive grant money totaling euro 1.1 million until the year 2007.

This funding will support collaborative drug discovery efforts with the goal of rapidly advancing novel drug targets toward clinical testing. The grant was transferred from Axxima Pharmaceuticals to GPC …