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
"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 ge
|SOURCE Xenome Ltd|
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