The Centre for the Development of Industrial Technology (CDTI) has awarded EntreChem with a NEOTEC-2 grant, consisting on a special loan (a reimbursable loan) of 658.050 EUR for development of new antitumoral molecules. This loan carries a 0% interest rate and its reimbursable anytime contingent to positive cash-flow of the recipient company. For the NEOTEC-2 program, CDTI has thoroughly evaluated the progress of the company line of work regarding new drug development, and given EntreChem strong data, reached the conclusion that further development deserves to be funded under the privileged conditions offered by the NEOTEC program. CDTI only backs projects that are technically and economically viable, but does not demand real guarantees from the promoting company for the awarding of its credit.
About CDTI: The Centre for the Development of Industrial Technology (CDTI) is a Spanish public organisation, under the Ministry of Industry, Commerce and Tourism, whose objective is to help Spanish companies to raise their technological profile. Although CDTI headquarters are located in Madrid, the Centre keeps an strategic network of offices abroad available to Spanish companies to support their international technology activities. For more information, visit www.cdti.es (in Spanish and English).
About EntreChem SL: EntreChem is a start-up company founded as a spin-off of the University of Oviedo in 2005 by Prof. Vicente Gotor, Prof. José A. Salas and Francisco Morís, Ph.D. The company focuses on novel products obtained by biocatalysis and combinatorial biosynthesis approaches, as well as development of processes involving enzymatic catalysis and genetic engineering of metabolic pathways. More information can be found at www.entrechem.com