Singapore, Nov 20, 2009: Kinaxo Biotechnology, a Germany-based biotechnology company has completed a financing round, gaining two new investors in the company, Leifina and Conmit Invest.
Meanwhile Jürgen Schumacher has been elected as a new member of the company’s advisory board, Kinaxo said in a press release.
Kinaxo said existing shareholders Axel Ullrich, Hellmut Kirchner, Manfred Ferber as well as the company’s institutional investors Mountain Partners, BioM, High-Tech Gründerfonds, the Max-Planck Society and the KfW ERP Start-Fonds also participated in this financing round. Kinaxo will use the funds to develop novel biomarkers that allow stratification of cancer patients receiving targeted therapies.
Kinaxo's CEO and co-founder Andreas Jenne said, “There is little doubt that biomarkers will be one of the major drivers of pharmaceutical research and development in the 21st Century. Biomarkers have the potential to improve R&D efficiency and clinical success rates, save public health costs, and gain pharmaceutical companies a valuable advantage over their competitors. Following this trend we will make significant investments over the next few years to expand our phosphoproteomics services PhosphoScout and develop a novel class of biomarkers that help improve cancer therapies.”
Horst Domdey, CEO of BioM said: “Kinaxo is in the right place at the right time. Today, biomarkers are more and more in demand to improve treatment options. With its unique phosphoproteomics platform that goes way beyond existing technologies, Kinaxo is very well positioned in this rapidly growing market. Moreover, Kinaxo’s recent partnerships with Bayer and Roche underpin the industry’s readiness to implement novel technologies turning personalized medicine into reality.”
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