Halle,
Germany, February 2, 2011 – Scil Proteins today announced that it
has concluded a financing round with its existing investor, BioNet Holding,
worth €24 million. The funds are intended to finance the development of two
products derived from the Company’s Affilin® platform into clinical Phase I over the next three years. Further terms
of the financing were not disclosed.
Scil Proteins’ Affilin® therapeutics are so called
scaffold proteins derived from the human protein Ubiquitin. Affilin®
molecules are high affinity binders with excellent target specificity. The
Affilin® platform has successfully delivered target specific
molecules, which have subsequently shown activity in animal models, within only
a few months. Scil Proteins intends to advance into clinical development two
Affilin® therapeutic candidates targeting cancer indications.
Dr. Ulrike Fiedler, CEO of Scil Proteins, commented:
“BioNet Holding has supported Scil Proteins from its inception. They recognise the achievements and the enormous potential of our
technology, and decided to back the company once more as the sole investor.”
About Scil Proteins
Scil Proteins is a biopharmaceutical
company discovering and developing Affilin® molecules and
working with industry partners in the development and manufacture of protein
therapeutics and diagnostics.Affilin® molecules are therapeutics and diagnostics based on a scaffold derived from the
human protein Ubiquitin to form highly stable molecules with strong binding
specificity and low immunogenicity. Scil Proteins’ discovery platform is a
fully patent protected screening technology for the identification of
target-specific Affilin®molecules using
advanced selection systems. Scil Proteins has generated a pipeline of Affilin®therapeutics targeting cancer and other therapeutic
areas. It also offers the technology to the industry for collaborative
discovery and development partnerships. With a longstanding expertise in
protein production and development, Scil Proteins also offers GMP contract
biomanufacturing and process development to biotech and pharma companies. Scil
Proteins is a well-established private company located in Halle, Germany.
