Annecy, France

Galeon Announces €500,000 Funding for Drug Repurposing with no Strings Attached

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In early April 2024, physicians and scientists who have observed cases of drug repurposing, i.e. the possible reuse of generic drugs (off-label), will be able to apply.

Once the projects have been selected by a scientific committee of experts, the €500,000 will be used to fund the study to be conducted to scientifically validate the therapeutic repurposing.

This is a first in the start-up world.

Galeon is deployed in those hospitals

It takes billions of euros to develop and bring new drugs to market. Licensing the drug brings in tens of billions of euros for pharmaceutical companies.

However, drug repurposing is not in the interest of the pharmaceutical industry: the margins are very low on generic drugs. Some funds are allocated to repurposing, as research projects, but this is a drop in the bucket compared to the potential.

Despite a colossal positive impact on patient health, drug repurposing remains underfunded.

Repurposing of drugs saves lives, but its funding is complex.

Significant funding for maximum impact on health with no strings attached.

Galeon's goal is to find repurposing candidates and fund the study necessary to use the drug to treat diseases up to €500,000.

Promising research projects will be selected by an independent scientific committee. Galeon's community of pioneers will also take part in the selection.

This is a first funding for medical research 100% on the company's own funds. Galeon plans to gradually increase this funding in accordance with its roadmap.

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