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NewsJanuary 19th, 2006 - Press Release ReceptIcon has raised DKK 31 mil. for the continued development of ReceptIcon’s first drug candidate. The Aarhus-based biotech company, ReceptIcon, is a spin-out from a research cooperation between the University of Aarhus and the Max Delbrück Center for Molecular Medicine in Berlin. The company has now raised share capital for the continued clinical development of its first drug candidate. The founders’ Danish representative, Professor Anders Nykjaer, says: “I am really proud that we have been able to attract a strong investor team based on exciting and strong research data”. The investor team consists of the following four venture funds:
and:
The Managing Director of the lead investor, INCUBA Venture, Torben Vilsgaard, says “ReceptIcon has a very exciting technology for reducing serious side effects of a number of drugs. Supported by Oestjysk Innovation, ReceptIcon has been able to keep its focus on generating and advancing research results during the latest four years. This fact has contributed to gathering a team which comprehends technical, financial and commercial experiences. Of course I am happy to include strong capital partners in the team which also have significant international experience”. During the latest years, ReceptIcon has focused on developing a drug candidate being able to prevent the unpleasant and expensive renal damaging side effects associated with the otherwise effective treatment with the antibiotics of the amino glycoside group, a.o. Gentamycin. Dansk Erhvervs-investering is pleased by the high technical skills combined with a clear knowledge of the commercial potentials and Senior Investment Manager, Steen Helde Hemmingsen, says: “Anders Nykjaer and Thomas Willnow lead a strong research team, which at the same time is able to manoeuvre the company towards a commercial success. These facts combined with the possibility in the longer term of developing an interesting line of products within other therapeutical areas have been important aspects for our decision to make an investment in ReceptIcon”. InnovationsKapital has also a positive view on ReceptIcon’s potential. “We follow the Danish investment opportunities and with ReceptIcon we see a possibility of establishing a biotech company with an exciting potential”, says Investment Director Ulf Tossmann and he continues: “ReceptIcon’s technology platform constitutes a unique possibility of addressing more and various therapeutical areas, and we are looking forward to developing the company towards a commercial success in cooperation with our Danish colleagues”. VECATA is especially pleased by the broad and comprehensive experience within the five investors. “This investment has combined ReceptIcon’s very promising research results and dedicated organisation with strong investment capabilities. It’s a comprehensive investment team which forms a powerful framework for making ReceptIcon a success”, concludes Managing Director Hans-Henrik Eriksen, VECATA.ReceptIcon is a biotech company based on the identification of novel receptors in the kidney that are responsible for renal uptake and nephrotoxity of therapeutic drugs. The company is focused on the development of receptor antagonists that prevent accumulation of therapeutics in the kidney. Such antagonists can be used as active pharmaceutical ingredients for reformulation of marketed nephrotoxic drugs thereby precluding their toxic side effects. Anders Nykjaer , CEO |
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ReceptIcon ApS - Fruebjergvej 3, Box 35 -
DK-2100 Copenhagen - Denmark |
January 2006