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Syntarga BV Closes Series A Financing


10/19/2005 5:12:42 PM

Nijmegen, The Netherlands April 15, 2005 Syntarga BV today announced that it has realised a first round of financing. Allocation of funds will be towards the development of novel linker technologies for oncology products and the establishment of partnerships with biotechnology and pharmaceutical companies. The financing round was led by Aglaia Oncology Fund with BioPartner Start-up Ventures as co-investor.

Many anti-cancer agents, either used in the clinic or in development, cause serious side effects or are even too toxic for direct use. To contribute to the solution of this problem, Syntarga was founded in 2002 as a spin-off from the Department of Organic Chemistry at the Radboud University in Nijmegen. Its approach is to link anti-cancer drugs to targeting molecules via chemistries that enable an efficiently triggered release of the cell-killing drug moiety upon localization of the conjugate at the tumor site. Syntarga’s unique technologies thereby serve to improve the efficacy and to reduce the toxicity of these agents. Appropriate linker chemistries are essential to unlock the therapeutic success of many new, targeted bioconjugates based on peptides, proteins or antibodies with tumor-specific binding properties. Syntarga aims to become a leader in the development of sophisticated novel linker technologies to achieve successful bioconjugation and targeted drug release.

Aglaia is a venture firm dedicated to identifying groundbreaking opportunities in cancer research and to contributing to the expansion of its ventures into next phases. Aglaia’s team, expertise and network in the field of oncology research and product development further support the growth of Syntarga.

BioPartner Start-up Ventures is a fund initiated by the Dutch Ministry of Economic Affairs, aiming at facilitating venture capital investments in the life sciences sector. Other shareholders include the founders, the Radboud University and Biorogen BV.

For further information contact: Syntarga Vincent de Groot, Ph.D. - CEO fmhdegroot@syntarga.com www.syntarga.com Aglaia Biomedical Ventures info@aglaia-biomedical.com www.aglaia-biomedical.com


Read at BioSpace.com


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