Aptamer Group — a biotech business — has closed its Series A financing round, securing $2.2 million from overseas investors to support its aptamer development programme.
Dollars
Through this funding the company will be able to expand its York Science Park-based business, with ten new positions in technical, sales and administration roles, supporting its continuous growth.
Founded in 2008, the company specialises in the identification, development and characterisation of nucleic acid aptamers — synthetic alternatives to antibodies. It operates four separate companies and recently added an office in Boston, USA.
“Aptamer technology is rapidly evolving and will have a significant effect on the life sciences market in the coming years due to our ability to rapidly discover aptamers — combined with advantages in the manufacturing process such as the stability of aptamers, the cost of manufacturing and the reproducibility of results when compared to antibodies,” revealed chief executive officer of Aptamer Group, Dr Arron Tolley. “The investment will allow us to drive forward our pre-clinical discovery programmes involving the development of aptamer drug conjugates (ApDCs) which are set to become a revolutionary approach to targeted drug delivery.”
“We believe that aptamer technology represents a paradigm shift in drug delivery methodology. We have invested in Aptamer Group due to their progressive approach and unique technology platform, which can select aptamers significantly better and faster with the superior binding properties,” added a spokesperson for Meneldor — Netherlands-based biopharmaceutical investment company that supported the investment round. “We believe that this will lead to the development of new medicines and represents an exciting investment opportunity. We believe this company and its management team has the potential of becoming the next Ablynx.”