The Association Monégasque contre les Myopathies-Only Project expands its research support programs and strengthens its governance structure
06 November 2024 - press release
Monaco, 6 November 2024 - Thanks to the extraordinary contribution made by the world of Haute Horlogerie since 2005, the Association Monégasque contre les Myopathies-Only Project (‘AMM-Only Project’) has raised nearly 130 million euros to advance its mission of developing therapies for Duchenne muscular dystrophy, a genetic disease that affects around 1 in 3,500 boys and leads to progressive muscle deterioration, loss of autonomy, and premature death.
Since its founding in 2001, the association has organized key meetings between researchers from all over the world to discuss scientific and medical advances in muscular dystrophies, it has funded collaborative research initiatives and numerous projects led by scientists from all backgrounds, in hospitals and universities, as well as its own R&D programs within start-ups. Today, a ‘first in human’ phase 1/2A clinical trial[1] is being conducted by scientists supported by the AMM-Only Project on a new compound that could change the situation for many patients.
The association has also provided key funding for projects looking at other therapeutic avenues, developing our knowledge of the disease and creating tools for better diagnosis and treatment. In the coming months, new programs will be launched to further contribute to scientific and medical progress for the benefit of patients worldwide awaiting solutions.
With this in mind, the AMM-Only Project is reinforcing its team and governance by establishing a Strategic Committee composed of recognized professionals, including figures from the watchmaking industry, as well as a Scientific Advisory Board featuring international experts in medical and scientific research. The role of these bodies, whose members will be announced in January 2025, will play a pivotal role in shaping the association's strategic direction and selecting impactful projects for support.
With the success of 10 editions of Only Watch organized between 2005 and 2024, the AMM-Only Project has the resources it needs to sustain and amplify its commitments in the coming years without requiring a new fundraising event in the short term. As a result, the association's Board of Directors has decided not to schedule a new edition of Only Watch.
Luc Pettavino, Chairman of the AMM-Only Project and founder of Only Watch, commented: ‘Thanks to a unique collaborative network and the immense efforts of all its members, the watchmaking industry and its ecosystem are currently fueling hope for the lives of people suffering from muscular dystrophies and enabling research to make progress towards therapies. Over the past two decades, the AMM-Only Project has become a game changer in this field.
The 10 editions of the iconic Only Watch auction, with more than 440 unique timepieces created and sold for the occasion, have also elevated Haute Horlogerie to new international heights, setting world records not only in value but also in empathy and unity. An entire sector has come together to fight a devastating childhood disease.
Today, the association's financial reserves are sufficient to meet the needs of existing programs, in particular, the independent continuation of the ‘first in human’ clinical trial currently underway and to launch new initiatives that will foster the next generation of researchers and further expand our action.
Our ties with the men and women of the watchmaking industry will continue, and even be strengthened, by the creation of a Strategic Committee on which they will be strongly represented and will be able to continue to share this long-standing common commitment to therapies.
It is with infinite gratitude to all those involved in the cause of hope that I share this news.'
Tess Pettavino, Managing Director of the AMM-Only Project: ‘Thanks to the support of our generous donors and partners, we now have sufficient financial resources to enable us to tackle the next phases of research with confidence. Firmly anchored in our historic mission to find a therapy for Duchenne muscular dystrophy, we will support the continuation of clinical trials, accompany new research programs and develop our endowment fund to fight against Duchenne muscular dystrophy and rare genetic diseases’.
For more information on the association's work and to follow our news, visit onlyproject.org and subscribe to the AMM-Only Project’s newsletter.
*****
Timeline: publication of the 2024 annual report in early 2025.
Contact: media@onlyproject.org - Aliénor Miens - +33 (0)6 64 32 81 75
A presentation of the AMM-Only Project, its history, finances and projects can also be downloaded from this link.
*****
[1] (AVANCE-1, EUCT N° 2022-500703-49-01 authorised by ANSM/EMA on 21/11/2022)