CombiGene AB (publ) (“CombiGene”, the “Company”) today announces that the Board of CombiGene has decided to discontinue all activities and collaborations linked to research.
Since autumn 2024, CombiGene has been in dialogue with potential partners regarding the epilepsy project CG01. Based on these dialogues, the Board has decided to discontinue the project in its entirety.
Furthermore, the Board has decided to terminate the agreement with Zyneyro. The decision is based on an assessment of the pain program's extensive future financing needs, which CombiGene cannot meet on its own. The termination means that CombiGene no longer has any rights or obligations related to the pain program.
In line with the above, the Board has also decided to divest the Company's ownership and involvement in CCRM Nordic AB.
“We have also investigated the possibilities of raising capital but can state that the capital market for biotech is currently relatively risk averse. In order to reach a commercial phase, a significantly larger capital raise would be required, and at present we believe that this is not possible," says Luca di Stefano, Chairman of the Board of CombiGene.