Growing FSHD community support for Facio
November 14, 2016
Facio Therapies announced today that the Dutch FSHD Foundation (FSHD Stichting) and the FSHD Canada Foundation have joined its shareholder base, which already included the FSHD Global Research Foundation and FSHD-affected families. New and existing investors together provided over €865,000 (about US$960,000) in new equity funding.
Facio’s Chairman, Kees van der Graaf, noted that to date Facio has successfully raised €3.3+ million (about US$3.7 million) in equity from FSHD-affected families, their friends, and FSHD foundations. “We are very proud to see more and more members of the FSHD community come together to support the pursuit of our singular goal: the development of a causal therapy for FSHD,” he added.
Facio recently reported the development of the first-ever DUX4 screening platform, which it is now using to generate series of compounds (“hits”) able to repress the production of the muscle-toxic DUX4 protein in cultured cells derived from FSHD-affected muscle biopsies. Over the next few months, these hits will be subjected to rigorous testing to maximize the probability of ultimate success in patients.
David Dasberg, Facio’s Managing Director: “We have now begun to build a sound basis for reaching our next major goal - developing compounds that we can take into clinical trials. We are working very hard to get there as quickly as possible, but quality comes first for us. Because our mission is to serve the FSHD community, we have not and will not cut corners.”
About the FSHD Stichting
The Dutch FSHD Foundation stimulates, facilitates, and financially supports solid scientific research into the causes of FSHD, in order to find treatments and develop solutions that help improve patients’ quality of life.
About the FSHD Canada Foundation
The singular goal of the FSHD Canada Foundation is to help find a cure - as soon as possible - for Canadians who suffer with FSHD. To accomplish this the Foundation aims to reach out to all Canadians to make them aware of what is going on in FSHD research and to solicit financial support for the critical research required to find a cure. The Foundation will then use these funds to support FSHD research - in Canada and around the world.
About Facio Therapies
Arising from the FSHD community, Facio aims to translate breakthrough results of 25 years of basic research into a therapy that stops the progressive muscle wasting caused by FSHD. That is Facio’s product mission. Facio also aims to make its therapy widely available by using a transparent model for fair and reimbursable pricing. That way, Facio aims to generate sustainable profits to fund additional quality-of-life projects for people with FSHD and to provide liquidity to its shareholders. That is Facio’s socio-economic mission.