FluoGuide receives tranche of EUR 750,000 under its ongoing grant from EIC Accelerator - SME Instrument under European Union for FG001

Copenhagen, Denmark, 20 August 2021 FluoGuide A/S ("FluoGuide" or the “Company”) is pleased to announce that the Company has received a tranche of EUR 750,000 as pre-financing under the total grant of EUR 2.5 million (approx. DKK 18.6 million or SEK 26.1 million) from the European Innovation Council (EIC) following their twelve-month review of the development of FG001.

Last year, the Company announced it was awarded with a grant on in total EUR 2.5 million under the European Innovation Council (EIC) for the purpose of funding both manufacturing (CMC) and clinical work supporting Phase III development of FG001. The EIC grant is non-dilutive and distributed in tranches during a period of 24 months. Including this on EUR 750,000, the Company has now in total received approximately EUR 2 million with EUR 0.5 remaining (see press release published 8 June 2020).

The work of developing FG001 as an approved treatment of aggressive brain cancer is progressing according to the EU approved plan.

The EIC Accelerator (SME Instrument) is part of the European Innovation Council that supports top class innovators, entrepreneurs and small companies with funding opportunities and acceleration services. Its main focus is on market-creating innovations that produce jobs, fuel growth and generate higher standards of living. This very important support from The European Innovation Fund substantiates FluoGuide’s strategy of developing a multiple-products, multiple indications portfolio that maximizes surgical outcome in cancer treatment.