NEW YORK, Jan. 10 (GenomeWeb News) - Axxam said today that it has received two research grants, worth a total of €7.8 million, from the Italian Research Ministry and the Regione Lombardia to advance drug-discovery projects.
The first grant, worth €6.7 million, will be awarded over a three-year period with 33 percent non-refundable and 67 percent repayable at a 0.5 percent interest rate within ten years time. The funding was granted in support of Axxam's development of advanced screening assays for high-throughput screening, as well as new screening technologies, the company said.
The second grant, worth €1.1 million, will be awarded over two years and is non-refundable, said Axxam. The financing will support a new project in the field of cell-based assays for HTS based on the innovative use of mouse stem cells.