Heptares was founded in 2007 as a spin-out from the prestigious MRC Laboratory of Molecular Biology (Cambridge, UK) based on world-class pioneering research and expertise in GPCRs. In 2008, the StaR technology was used successfully to elucidate the three-dimensional atomic resolution structure of the beta-1 adrenergic receptor, which is the site of action of beta blockers.
Heptares' CEO, Dr Malcolm Weir, said: "We are very pleased to have completed this significant fundraising in the current economic environment. We are delighted to have attracted such a truly international group of blue-chip investors and see this as a real endorsement of the quality and commercial potential of our StaR technology. We now have a very good opportunity to implement our strategy for generating new drug candidates to highly validated but previously challenging GPCRs."
Dr Michael Steinmetz, Managing Partner at Clarus Ventures, said:
"Heptares has made impressive progress in developing its unique StaR
technology since its inception in 2007. Its platform has the potential to
make important GPCR drug targets accessible to drug discovery techniques
previously not applicable to this class of proteins. The commercial
opportunity arising from developing new first/best-in-class drugs to GPCRs is
clear, particularly with pharmaceutical company pipelines under pressure. We
are pleased and excited to participate in this funding round with MVM and
Novartis Option Fund, and are committed t
|SOURCE Heptares Therapeutics Ltd|
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