Cytoguide, a new Danish biotech company, is the first to receive a Pre-seed Grant from Novo Seeds
Århus, Nov 01, 2007 English version
Cytoguide, a new Danish biotech company developing two-component combinatory drugs that target endocytic receptors of specific cells, today announces that it has received a pre-seed grant from the Novo Nordisk Foundation via Novo Seeds. The patented technology for directing drugs may be applicable for drug development in a range of disorders including inflammatory disease, which is the main focus area of the present development program of the company. The pre-seed grant allows Cytoguide to reach proof of concept for the up-take of drugs in the specific cells and further secure its patent protection.
"We are very happy about receiving this pre-seed grant and being the first company that enrolls in the new Novo Seeds pre-seed program launched by the Novo Nordisk Foundation", says Professor Søren Moestrup who is one of three Cytoguide founders. "The grant gives us the ability to test whether our idea on targeted delivery of two-component combinatory drugs is durable with the long term goal of becoming a key player in the next generation of anti-inflammatory drugs"
Henrijette Richter, Investment Director in Novo Seeds, comments on the pre-seed grant: "Cytoguide represents a perfect pre-seed case, and we are excited about supporting this very early stage company to ensure that an idea together with some preliminary data can be further validated and its commercial potential exploited. Not only do we find Cytoguide's data extremely interesting - also the drive and state of the art science that these founders represent have been a significant factor in our choice of this first pre-seed grant"
About Cytoguide
Cytoguide is a company that develops two-component drugs which target specific receptors on cells of the immune system, and by means of these receptors ensure efficient uptake of the drug where it is needed. The company was founded at Aarhus University by the scientist team, Søren Moestrup, Holger Møller and Jonas Graversen - all with entrepreneurial experience and highly acknowledged research on various receptors for uptake of proteins, vitamins, hormones, lipids and drugs.
For further information please contact:
Professor Søren Moestrup, Founder of Cytoguide, +45-8942 2882 (direct), skm@biokemi.au.dk
Gert Almind, Director, DMSc., Novo Nordisk Fonden, +45-4443 9035
Henrijette Richter, Investment Director, Novo A/S, +45-3079 4545 (mobile), heri@novo.dk
About Novo Seeds
Novo Seeds is a life science supporting program launched by the Novo Nordisk Foundation and Novo A/S. Novo Seeds has two components, a pre-seed funding capacity and a seed financing fund. Both aim at identifying and developing the unexplored commercial potential present in academic and early stage applied research projects at universities and biotech companies within life science in Scandinavia.
About the Novo Nordisk Foundation
The Novo Nordisk Foundation is a self-governing and profit-making foundation. The objective of the Novo Nordisk Foundation is twofold: to provide a stable basis for the commercial and research activities conducted by the companies within the Novo Group, and to support scientific, humanitarian and social purposes. Most of the grants are awarded to medical and scientific projects and to select other research areas. The decision to award grants is the responsibility of scientific committees. For further information visit www.novonordiskfonden.dk
About Novo A/S
Novo A/S, the holding company in the Novo Group, was established prior to the de-merger of Novo Nordisk in 2000. Novo A/S is a private limited liability company fully owned by the Novo Nordisk Foundation. Besides being the majority shareholder in Novo Nordisk A/S and Novozymes A/S, Novo A/S provides seed and venture capital to development stage companies within life science and biotechnology, as well as manages a broad portfolio of financial assets. For further information visit www.novo.dk
