Biotech Glycotope Manages To Squeeze $76 Million Out Of German Billionaires
3/12/2014 8:25:42 AM
Glycotope Secures EUR 100 Million For The Financing Of New Drugs
Glycotope GmbH in Berlin-Buch, an associate company of ELSA GmbH, has been able to solicit additional capital in the amount of EUR 55 million for the development of their new cancer drugs PankoMab and CETUGEX. With the money to be completed by the end of 2016 clinical Phase IIb trials with hundreds of patients in different European countries and the United States. Donors are next ELSA especially the Munich Jossa medicinal GmbH (Strüngmann group). They are shareholders of the company since 2007. ELSA and its parent company Eckert venture capital is involved in the company since its founding in 2001.
In addition to the successful capital Glycotope was recently also secure financing for the final clinical trials of its improved fertility hormone FSH-GEX. The Examining Phase III at about 2,000 patients of European and American clinics to begin in summer 2014. If the tests confirm the good results of the preliminary phases, Glycotope approvals for FSH-GEX could reach already in 2017. Overall, the new funding commitments to Glycotope exceed thus EUR 100 million.
"We are delighted with the confidence of our investors and the fact that Glycotope with these financing commitments to one of the largest independent biotechnology company in Germany is growing," said Dr. Steffen Goletz, Managing Director and Founder Glycotope. "With our innovative method for optimizing sugar structures on protein molecules we can make numerous proven drugs still acceptable, effective and cheaper. We hope to make the world market for biomedicines to revolutionize in the coming decades."
ELSA Eckert Life Science Accelerator GmbH a privately financed obstetrician for firms in the manufacturing healthcare industry that focuses on the creation, start-up and financing of innovative pharmaceutical and medical technology companies. ELSA manages the investment portfolio of Eckert venture capital and early stage financing (EER) and is an accredited Leitinvestor the Reconstruction Loan Corporation. Recently, also the European Investment Facility (EIF) had been involved with a double-digit million amount of the refinancing of the ELSA. The current portfolio of ELSA can be found at www.elsalifescience.com
Glycotope is a specialist in sugar structures on protein molecules and one of the largest independent biotechnology company in Germany. Founded in 2001 by EWK, it now has 180 employees at two locations in Berlin and Heidelberg. In addition to the development projects described above Glycotope has a broad portfolio of additional clinical candidates. , the new drugs Glycotope in detail FSH GEXTM is the first fully human-glycosylated FSH (follicle-stimulating hormone-mon) for supportive care of women with difficulties conceiving, which is produced by using human cells and glykooptimiert to mimic endogenous human FSH. FSH GEXTM compared to standard treatment with Gonal-f ® showed a significantly enhanced activity and excellent tolerability in the Phase II clinical study for the supporting reproductive technology ("Assisted Reproductive Technology", ART). Start of Phase III is planned for this year.
PankoMab-GEX ™ is the first fully human-glycosylated and glycooptimierte antibodies against a novel tumor-specific epitope (TA-MUC1), which consists of carbohydrates and proteins. This epitope is expressed on the surfaces of a variety of solid tumor cells, metastasis and cancer Stem cells and is virtually not present in healthy cells. PankoMab-GEXTM demonstrated in the Phase I trial as monotherapy in several indications including ovarian and lung cancer, excellent compatibility, no significant toxicity and a strong anti-tumor activity. Last year, a Phase IIb clinical trial for maintenance therapy in ovarian cancer was begun, and the first patients were treated with PankoMab-GEXTM.
CetuGEX ™ is a novel monoclonal antibody that binds to the receptor of the epidermal growth factor ("epidermal growth factor receptor" , EGFR). CetuGEX ™ has an optimized and fully-human glycosylation for a greatly enhanced anti-tumor activity and tolerability, and for an extended Patientienten and range of indications. In the Phase I clinical CetuGEX ™ showed as monotherapy compared to other EGFR-binding antibodies a strong and long-lasting anti-tumor activity as well as a significantly improved side effect profile. CetuGEXTM started successfully into the clinical phase IIb. TrasGEXTM is a novel glycooptimierter monoclonal antibody that is directed against the Her2 receptor (EGFR) and has a significantly improved anti-tumor activity, as well as an expanded patient and range of indications addressed. TrasGEXTM confirmed its strong and long-lasting anti-tumor activity in a just successfully completed clinical phase I / IIa study. All products were glykooptimiert, fully human glycosylated and produced in an exceptional quality, reproducibility and yield using GlycoExpressTM. GlycoExpressTM is the most complete, most powerful and validierteste Glycooptimierungs and production technology to improve the vast majority of antibodies and protein-based biopharmaceuticals.
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