News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Scil Proteins GmbH Raises Financing of Euro 24 Million (US$33.1M)


2/2/2011 6:46:02 AM

HALLE, Germany--(BUSINESS WIRE)-- Scil Proteins today announced that it has concluded a financing round with its existing investor, BioNet Holding, worth €24 million. The funds are intended to finance the development of two products derived from the Company’s Affilin® platform into clinical Phase I over the next three years. Further terms of the financing were not disclosed.

Scil Proteins’ Affilin® therapeutics are so called scaffold proteins derived from the human protein Ubiquitin. Affilin® molecules are high affinity binders with excellent target specificity. The Affilin® platform has successfully delivered target specific molecules, which have subsequently shown activity in animal models, within only a few months. Scil Proteins intends to advance into clinical development two Affilin® therapeutic candidates targeting cancer indications.

Dr. Ulrike Fiedler, CEO of Scil Proteins, commented:

“BioNet Holding has supported Scil Proteins from its inception. They recognise the achievements and the enormous potential of our technology, and decided to back the company once more as the sole investor.”

About Scil Proteins Scil Proteins is a biopharmaceutical company discovering and developing Affilin® molecules and working with industry partners in the development and manufacture of protein therapeutics and diagnostics. Affilin® molecules are therapeutics and diagnostics based on a scaffold derived from the human protein Ubiquitin to form highly stable molecules with strong binding specificity and low immunogenicity. Scil Proteins’ discovery platform is a fully patent protected screening technology for the identification of target-specific Affilin® molecules using advanced selection systems. Scil Proteins has generated a pipeline of Affilin® therapeutics targeting cancer and other therapeutic areas. It also offers the technology to the industry for collaborative discovery and development partnerships. With a longstanding expertise in protein production and development, Scil Proteins also offers GMP contract biomanufacturing and process development to biotech and pharma companies. Scil Proteins is a well-established private company located in Halle, Germany.

To learn more about Scil Proteins please visit www.scilproteins.com

Contact:

Scil Proteins GmbH Frank Ubags CFO t: +49 (0) 345 27 99 63 30 e: frank.ubags@scilproteins.com or College Hill Dr. Robert Mayer Senior Account Manager t: +49 (0) 89 5700 1806 e: robert.mayer@collegehill.com


Read at BioSpace.com

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES