To progress product candidates into development and maximise potential of the Modular Antibody Technology Platform
Vienna, Austria, (13 April, 2011) — f-star GmbH, a biopharmaceutical company developing a new generation of antibody based products using its Modular Antibody Technology platform, today announced the closing of a EUR 15 Million financing. The investment was led by SR One, the corporate venture capital arm of GlaxoSmithKline. All of f-star’s existing investors, Atlas Venture, Aescap Venture, Novo Ventures, TVM Capital, Merck Serono Ventures and MP Healthcare Venture Management, also participated in the round. As a result of the financing SR One Partner Dr Deborah Harland and Dr Axel Polack of TVM Capital will join f-star’s Supervisory Board.
“f-star has shown that its Modular Antibody Technology platform can generate multiple high affinity biotherapeutics against targets of varying precedence and novelty in both single- and bi-specific formats”, said Dr Harland. “We believe the platform has the potential to generate numerous novel differentiated biologics with advanced efficacy, tissue penetration and targeting capabilities compared to traditional antibodies and are excited to be part of the next stage of the company’s development.”
Dr Kevin FitzGerald, Chief Executive Officer of f-star, commented: “We are delighted to welcome SR One as a new investor in f-star. With this financing we are now ideally placed to progress the first product candidates generated from our unique platform through IND enabling studies and thereafter into the clinic.”
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