Crystax Pharmaceuticals closes financing round
30 September, 2005
Crystax Pharmaceuticals, S.L., one of the most prominent life-science ventures in the emerging Spanish biotech scene, has closed a financing round with venture capital firms Najeti Capital, Barecelona Empren and Invertec. The capital increase raises the total venture capital invested into Crystax to €2.1 million. This funding will enable the company to further pursue its objective of becoming a leading provider of early-stage drug candidates within the next few years.
Crystax was founded in 2002 as a spin-off of the Spanish National Science Council (CSIC) and the Technical University of Catalonia, UPC. It is situated in the Barcelona Science Park, one of the most well-equipped research centres in southern Europe. At the core of Crystax’s scientific approach is a unique combination of drug discovery methods. At the core of Crystax's unique strategy is a rational approach that accelerates the time required from deducing the molecular mechanism of a pathology to putting an appropriate drug into the clinic.
Crystax is currently concentrating on established cancer targets. With the growing concentration of cutting-edge biopharmaceutical research in the Barcelona area, marked by the expansion of the Barcelona Science Park, the establishment of the Barcelona Biomedical Research Park (PRBB) and the construction of the Spanish Synchrotron, we expect that the pace and scope of Crystax’s activities will further increase in the near future.
“This show of confidence on the part of our investors is an important signal to us and the scientific and investment community around us. It is invaluable to have such far-sighted entrepreneurs at our side who understand the enormous value of the emerging Spanish biotech scene” says Dr. Claas Junghans, Crystax’s CEO.
Crystax combines high-end structural biology methods such as crystallography and Nuclear Magnetic Resonance, with modern synthetic and computational chemistry. Its fragment screening technology greatly accelerates conventional drug discovery methods by combining small-molecule library screening with a structure-based approach to the synthesis of new chemical drug entities (NCEs).
NAJETI CAPITAL S.C.R., a venture capital firm specializing in fledgling high-tech companies, solidifies its place as a leading investor in Spain with this commitment– its fifth in the biotech sector out of a total of ten investments.
INVERTEC, focused on investment in high-tech companies in early development and start-up phases, was developed by the Center for Entrepreneurial Innovation and Development (CIDEM) of the Labor and Industry Department of the Generalitat of Catalonia.
BARCELONA EMPREN S.C.R, invests in early stage high-tech projects. Its investment portfolio includes ventures in the telecommunications, software, biotech and media sectors.
