At the end of 2015, Proteo Biotech AG set up a three-year program for the development of a new subcutaneous formulation of Elafin. The new Elafin formulation will allow Proteo to extend the development pipeline to treat chronic diseases, such as pulmonary arterial hypertension (PAH).
The development program has a total volume of approximately EUR 1.75 million. A grant application was successfully submitted under a research and development (BFEI) grant program of the German State of Schleswig-Holstein. The grant was approved in June 2016 as a non-repayable funding to cover 50% of the total development costs.
The BFEI grant program of Schleswig-Holstein for the promotion of innovation is a Regional Economic Programme funded by the European Union - European Regional Development Fund (ERDF), the Federal Government and the Land Schleswig-Holstein.