Navigation Links
Xenome Receives a Syndicated US$10 Million Equity Investment from Queensland BioCapital Fund, Amylin Pharmaceuticals and Innovis Investment Partners
Date:11/27/2007

BRISBANE, Australia, Nov. 27 /PRNewswire/ -- Xenome Ltd, a specialist biopharmaceutical company developing novel peptide drugs, announced today that it has successfully raised US$10M of equity finance. The syndicated funding round includes continuing support from Xenome's major investor, Queensland BioCapital Funds (QBF), for $2.7M, significant equity funding of $5m from Amylin Pharmaceuticals Inc, a top tier USA biotechnology company headquartered in San Diego, California, and $2.3M from Innovis Investment Partners (Innovis).

The combined investment will enable Xenome to continue the execution of its operational plan which includes:
- Implementation of a Joint Xenome-Amylin Research Collaboration

involving drug discovery of new compounds from Xenome's unique

peptide library using Amylin's assay technologies in the fields of

metabolic and musculoskeletal diseases;

- Expansion of the Phase 2 clinical development of Xenome's most

advanced and promising drug candidate, Xen2174, for the treatment of

acute and chronic intractable pain and;

- Furthering the development of Xenome's current drug candidate

pipeline.

"The opportunity to make two major announcements on the same day does not come around very often, so it is satisfying to be able to announce this new syndicated investment by QBF, Amylin and Innovis together with the execution of the separate Joint Xenome-Amylin Research Collaboration. The Company recognizes QBF's sustained support and belief in Xenome at a time when biotech funding comes at a premium. At the same time we welcome new substantial shareholders Amylin and Innovis Ltd. to the Company's share register." said Xenome CEO, Lewis Lee.

"The equity investment integrated with the extensive Xenome-Amylin Joint Research Collaboration provides a tremendous validation of the Company's peptide drug discovery platform and will facilitate Xenome's ability to rapidly generate novel lead molecules for key therapeutic targets." commented Cherrell Hirst, QBF CEO and Innovis General Partner.

Xenome information:

Lewis Lee

Director & CEO

Xenome Ltd

Tel: +61 7 3720 8055

E-mail: lewis.lee@xenome.com

Website: http://www.xenome.com

QBF and Innovis Information:

Cherrell Hirst MD (CEO)

QBF Pty Ltd.

Tel: +61 7 3009 6850

E-mail: c.hirst@qbf.qic.com

Website: http://www.qic.com

About Xenome

Xenome is a progressive Australian biotechnology company with a promising and distinctive technology platform targeting pain and inflammation. Xen2174, the Company's lead drug candidate is currently completing a Phase 1b/2a clinical trial for cancer pain with evidence to date providing strong support that the trial endpoints will be successfully met. More substantive clinical trials for expanded indications are planned for 2008. In addition, the drug discovery platform from which Xen2174 emerged has inherent value due to its ability to repeatedly identify new lead medicinal compounds on the basis of its unique construction around Australian biodiversity. Specifically, Xenome has generated a unique expertise in peptide chemistry to translate the evolutionary advantages inherent in venom peptides into highly bioactive libraries of molecules that are of interest to global biotechnology and pharmaceutical companies.

http://www.xenome.com

About QBF

Queensland BioCapital Funds Pty Ltd (QBF) is a $100 million closed end venture capital fund that seeks to invest in listed or unlisted companies in the human biosciences sector, in particular, pharmaceuticals, medical devices, consumer healthcare products and diagnostics. It is a wholly owned subsidiary of the Queensland Investment Corporation (QIC), one of Australia's largest institutional fund managers with over $50 billion in funds invested and owned by the Queensland Government, but with a Board and staff drawn from the private sector. QBF was established in October 2002 to assist QIC in its role as trustee and manager of the fund by identifying, validating and managing investment opportunities. QBF is actively involved in its investee companies, typically holding a significant equity position for several years in the form of preference shares with specified rights.

http://www.qbf.qic.com/

About Innovis

Innovis Investment Partners Australia LP is a venture capital fund focusing on private and micro-cap public companies in Biotechnology, Pharmaceuticals and Healthcare.


'/>"/>
SOURCE Xenome Ltd
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Reclast(R) Receives US FDA Approval as First and Only Once-Yearly Treatment for Women With Postmenopausal Osteoporosis
2. Ciphergen Biosystems Receives Noncompliance Letter From The Nasdaq Stock Market
3. Indevus Receives Approvable Letter From FDA for VALSTAR(R) for Bladder Cancer Therapy
4. Anesiva Receives FDA Approval for Zingo(TM), a New, Innovative Product to Reduce Pain Associated with Needle Insertion Procedures in Children
5. IsoTis Receives FDA Clearance for Accell Family of Products
6. Actavis Receives Approval of Fentanyl Transdermal System in the U.S.
7. AGA Medical Corporation Receives FDA and CE Mark Approvals for the AMPLATZER Vascular Plug II
8. IDM Pharma Receives Not Approvable Letter for Mifamurtide (L-MTP-PE) for the Treatment of Osteosarcoma
9. XTL Receives Staff Letter From NASDAQ
10. XTL Receives Staff Letter From NASDAQ; XTL may Transfer its ADR Listing to the NASDAQ Capital Market
11. Hemo-Stream(TM) Chronic Dialysis Catheter Receives FDA Clearance
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... and READING, England , ... Indegene ( http://www.indegene.com ), ein führender Anbieter ... die Life-Science-Branche, Pharmaunternehmen und Gesundheitsorganisationen, und TranScrip ... von innovativen wissenschaftlichen Support-Services für den gesamten ... IntraScience heute den Ausbau ihrer bestehenden Allianz ...
(Date:5/26/2016)... New Jersey and READING, ... Indegene ( http://www.indegene.com ), a leading ... to life science, pharmaceutical and healthcare organisations and ... of innovative scientific support throughout the product lifecycle, ... with the launch of IntraScience.      ...
(Date:5/26/2016)... ... May 26, 2016 , ... After several promising ... at the City of Knowledge in Panama, a 6 year-old Duchenne’s muscular ... US earlier this year following FDA approval of a second application for a ...
(Date:5/25/2016)... ... ... Lajollacooks4u has become a rising hotspot for specialized team building events in ... Fortune 500 companies, such as Illumina, Hewlett-Packard, Qualcomm and Elsevier, have traveled from ... Each event kicks off with an olive oil and salt-tasting competition. From there, ...
Breaking Biology Technology:
(Date:4/14/2016)... Israel , April 14, 2016 ... Authentication and Malware Detection, today announced the appointment of ... assumed the new role. Goldwerger,s leadership appointment ... on the heels of the deployment of its platform ... BioCatch,s behavioral biometric technology, which discerns unique cognitive and ...
(Date:3/31/2016)...  Genomics firm Nabsys has completed a financial  restructuring ... , M.D., who returned to the company in October ... team, including Chief Technology Officer, John Oliver , ... and Vice President of Software and Informatics, Michael ... Dr. Bready served as CEO of Nabsys from 2005-2014 ...
(Date:3/22/2016)... 2016 According to ... for Consumer Industry by Type (Image, Motion, Pressure, ... & IT, Entertainment, Home Appliances, & Wearable ... 2022", published by MarketsandMarkets, the market for ... USD 26.76 Billion by 2022, at a ...
Breaking Biology News(10 mins):