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Caprotec Bioanalytics Awarded EUR 0.6 Million ($0.8M) Grant for Research and Development



12/17/2008 2:02:40 PM

BERLIN, Germany, December 17, 2008 –caprotec bioanalytics GmbH announced today that it has obtained a grant of up to EUR 0.6 million over a period of two years from the Federal State of Berlin and the European Union Regional Development Fund (ERDF, or Europäischer Fond für regionale Entwicklung, EFRE).

The grant is to be used in the research and development of novel Capture Compounds™ and caproKits™ for the analysis of proteins involved in signal transduction.

caprotec bioanalytics has developed the Capture Compound Mass Spectrometry (CCMS) technology, a novel and direct way to investigate small molecule-protein interactions resulting in a significant functional reduction of proteome complexity. Capture Compounds enable the direct isolation and identification of selected proteins including membrane proteins out of any complex biological sample.

“We’re very pleased to receive this grant and that the European Union Regional Development Fund recognizes the value of our technology for the discovery and development of new medicines,” said Dr. Hubert Köster, CEO of caprotec bioanalytics. “Our Company’s Capture Compounds and caproKits enable the analysis of signal transduction proteins which are responsible for many regulatory processes in the cell. This type of protein analysis is receiving validation by experts in drug development, evidenced by our Company’s recent collaboration with Merck Serono.”

About caprotec bioanalytics GmbH

caprotec bioanalytics GmbH is a Berlin-based biotech company focusing on the commercialization of its proprietary Capture Compound Mass Spectrometry (CCMS) technology. The core of the CCMS technology consists of small, tri-functional molecules called Capture Compounds (CCs). They enable a targeted isolation of proteins directly from complex biological samples. After isolation the captured proteins are identified and characterized by mass spectrometry. Providing a state-of-the-art platform for the isolation and analysis of proteins from complex mixtures, the CCMS technology has enormous potential in proteomics, drug development and the development of biomarkers. The technology is protected by a broad patent portfolio.

caprotec bioanalytics was founded in 2006 by Prof. Dr. Hubert Köster, an experienced innovator and entrepreneur in the field of biotech. His track record includes the foundation of Biosyntech, the first biotech company in Germany, the co-foundation of US company Milligen/Biosearch, and the foundation of Sequenom (NASDAQ: SQNM), now headquartered in San Diego. In 1997 with Prof. Dr. Köster as President and CEO, Sequenom achieved the third largest biotech IPO that year on NASDAQ.

After closing a financing round of EUR 6 million, caprotec bioanalytics started operations in January 2008 in Berlin-Adlershof. The Company is supported by an international scientific advisory board including one Nobel Laureate. About European Regional Development Fund (ERDF) The ERDF’s goal is to strengthen economic and social cohesion in the European Union by correcting imbalances between its regions. The ERDF finances infrastructures linked notably to research and innovation, telecommunications, environment, energy and transport; direct aid to investments in companies (in particular SMEs) to create sustainable jobs; financial instruments (capital risk funds, local development funds, etc.) to support regional and local development and to foster cooperation between towns and regions; and technical assistance measures.

For further information visit:

http://ec.europa.eu/regional_policy/funds/feder/index_en.htm


Read at BioSpace.com


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