Another string to the bow in fight against COVID-19
Dublin, Ireland-based Exvastat has been awarded a 3.6 million-euro ($3.9 million) grant from the Innovative Medicines Initiative (IMI) to produce a reformulated version of Novartis’ (NOVN: VX) Gleevec (imatinib), marketed in Europe as Glivec.
The IMI is a European public-private initiative that is bringing together companies, academia, international organizations and public bodies to accelerate the development of therapeutics and diagnostics targeting COVID-19.
Using EU money complemented by investment from participating companies, the IMI is funding Exvastat to develop and test a new formulation of the drug in critically ill COVID-19 patients.
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