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Crossbeta Biosciences B.V. Receives Eurotrans-Bio Grant of Eur 0.75 Million


8/29/2011 9:50:10 AM

August 28, 2011 – Utrecht, The Netherlands -- Crossbeta Biosciences, a biotechnology company focused on the discovery and development of drug treatments for misfolded protein diseases, announced today that it has received a Grant of Eur 0.75 million for its lead program in Alzheimer’s Disease. The Grant was awarded by EuroTrans-Bio and allows Crossbeta Biosciences to progress the development of its disease-modifying treatment for Alzheimer’s Disease. This program specifically targets amyloid-? oligomers, the small protein aggregates that cause toxicity and inflammation in the brain of Alzheimer’s Disease patients.

Crossbeta Biosciences’ technology enables to study and specifically target protein species that cause or aggravate misfolded protein diseases such as Alzheimer’s Disease. Targeting these disease-specific misfolded proteins and inhibiting their negative effects creates novel treatment possibilities for these diseases.

Guus Scheefhals, CEO of Crossbeta Biosciences, said: “We are pleased with this recognition and financial support from EuroTrans-Bio for our Alzheimer’s Disease program and proud of the high ranking that our project obtained. This grant further strengthens our motivation to find a cure for this highly debilitating disease.”

About EuroTrans-Bio:

EuroTrans-Bio is a European Area Network in which 12 EU countries and regions participate. EuroTrans-Bio aims to support transnational R&D between companies, especially small and medium sized enterprises (SMEs), and their academic partners in the area of modern biotechnology.

About Crossbeta Biosciences:

Crossbeta Biosciences is a biotech company aimed at developing therapeutic applications of its crossbeta technology. This technology is based on crossbeta structures and specific epitopes in misfolded proteins. Misfolded proteins are associated with the progression of major diseases of today’s Western world and aging population. This includes diseases such as Alzheimer’s disease, type 2 diabetes and atherosclerosis. Crossbeta Biosciences strives to build up a pipeline of drug candidates for misfolded protein diseases and to offer services based on its technology to identify new targets and leads for drug discovery and diagnostic (biomarker) purposes.

For further information:

Guus Scheefhals

Phone +31 (0)30 253 2668

g.scheefhals@crossbeta.com



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