Cristal Therapeutics raises additional funding for its lead product CriPec® docetaxel
Maastricht, The Netherlands, July 1, 2013 – Cristal Therapeutics, the new trade name of the Dutch nanomedicine company Cristal Delivery B.V., announces the successful expansion of the financing round initiated by Thuja Capital and BioGeneration Ventures, by adding two additional investors, being Nedermaas Ventures and Innovatie Fonds Limburg. The proceeds of this round will allow Cristal Therapeutics to progress CriPec® docetaxel as first product into clinical development. Besides, the headquarter of Cristal Therapeutics will relocate from Utrecht to Maastricht.
Cristal Therapeutics develops innovative drug products for the treatment of various diseases including cancer by combining its CriPec® nanotechnology with novel agents and with existing drugs. The lead product CriPec® docetaxel is currently in development for the treatment of solid tumours. The first clinical study with CriPec® docetaxel will start in 2014.
Cristianne Rijcken: “It is a major step to have two new investors on board. I consider it as a next validation step for the potential of Cristal Therapeutics and its CriPec®-based products. I look forward to continue our efforts to bring CriPec® docetaxel into clinical development and to start evaluation of its preliminary efficacy, safety and tolerability in patients.
Jeffrey Lutje Spelberg, investment manager of Nedermaas Ventures: “The relocation of Cristal Therapeutics to Maastricht illustrates that the Euregio presents various attractive elements for life sciences companies, and we look forward to additional interaction between parties at the Maastricht Health Campus, the Chemelot Campus and other key players in the Euregio.
About Cristal Therapeutics and CriPec® docetaxel
Cristal Therapeutics is headquartered in Maastricht, the Netherlands, and focuses on the development of drug products with an improved therapeutic performance. The pipeline comprises products based on development stage or marketed drugs, in combination with the proprietary CriPec® platform, for the treatment of various diseases, including cancer and chronic inflammation. CriPec® transforms drug molecules via a sophisticated self-assembly process into polymeric nanoparticles, which have an improved disposition in the body. The significant improvement of efficacy and safety of drug molecules upon entrapment in CriPec® nanoparticles has been demonstrated in various in-vivo studies. Cristal Therapeutics has shown the advantages of CriPec® for diverse molecules including peptide drugs, and for applications like active targeting. Data collected to date have compiled the innovative product portfolio of Cristal Therapeutics as it stands today.
About Nedermaas Ventures
Nedermaas Ventures is a regional venture capital fund and a subsidiary entity of the Limburg Development and Investment Company LIOF. The fund focuses on seed investment opportunities across a broad spectrum of technology fields such as life sciences, biotechology, medical devices, agro/food and chemistry.
About Innovatie Fonds Limburg
The Innovation Fund Limburg aims to boost local SMEs by realising actual innovations or by supporting innovative enterprises in Limburg. The Province of Limburg intends to strengthen the SME potential and portfolio, to stimulate growth and simultaneously to create new employment opportunities.
Contact
Cristianne Rijcken, PharmD PhD
Chief Executive Officer, Cristal Therapeutics
+31 62 455 9175
Cristianne.Rijcken@cristaltherapeutics.com
