Paris, 30 November 2020, 7am
EIB supports AB Science in its COVID-19 development programme
- Financing deal worth €15.0 million signed to support clinical development programme for masitinib
- Masitinib developed as a credible candidate for treating COVID-19 in addition to other diseases for which no therapeutic solutions are available
AB Science SA (Euronext – FR0010557264 – AB) and the European Investment Bank (the EIB) are pleased to announce the signing of a loan agreement totalling €15.0 million (the COVID-19 loan) today.
This agreement will enable AB Science to fund the clinical development programme evaluating masitinib as a treatment for COVID-19.
Masitinib might be an effective treatment for COVID-19 due to its recently discovered dual mechanism allowing it to act as both an anti-inflammatory and an antiviral agent. Masitinib directly inhibits the 3CL protease, the main protease of SARS-CoV-2 directly involved in the replication of the virus.
This initial partnership