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SEA4MARKET
Sea4Us is a world-class biotechnology company with a focus on translating marine-derived compounds with therapeutic potential for unmet medical needs into pharmaceutical assets. Sea4Us has developed a platform focused on drug discovery and development of novel pharmaceuticals based on its core expertise in ion channels and marine biology. Sea4Us is particularly focussed on developing and commercialising therapies for chronic pain. Sea4Us has developed a ground-breaking therapeutic drug to treat chronic pain in patients. Chronic pain affects 100 million people across Europe, 1.6bn globally, and has a devastating impact on quality of life. There are many medications on the market for treating chronic pain, but they are either ineffective for most types of chronic pain and/or have adverse side-effects. Our novel analgesic molecule has a novel mechanism of action meaning it is highly effective at treating chronic pain and without any known side effects unlike current drugs on the market.
HORIZON-EIC-2023-ACCELERATOROPEN-01
Project acronym: Sea4Market
Main goal: This EIC Accelerator project, called Sea4Market, will enable us to clinically validate our novel analgesic through completion of First-in-Human trials and out-license our technology to make a rapid entry into the multi-billion Euro Chronic Pain market. EIC support is essential to deliver this high-risk, high reward project and will enable the sustainable growth of our business with the creation of 8 new positions and generation of net profits of € 24.1 m by 2028. We will re-invest revenues from our licencing deal back into our project pipeline and ensure the sustainable growth of our company.
Project Number | 101145231
Short Description | Clinical Validation of a novel non-opioid analgesic derived from the Portuguese sea for treating chronic pain
Duration | 24 months
Starting date | 2024-03-01
Ending date | 2026-02-28
Total Elegible Costs | €3,570,051.25
Financial Support from EU | €2,499,035.80
