Berlin, Germany, November 17, 2010 / b3c newswire / - Glycotope GmbH, a leading glycobiology company, has yesterday been awarded with the 2010 STEP-Award for financing. Glycotope was selected for its strategically aligned and long-term funding concept. A delighted CFO Dr. Franzpeter Bracht stated: “In addition to our outstanding technology, from the beginning we have put great emphasis on a balanced mix of revenues and investments." "The extraordinary financial commitment by Drs. Thomas and Andreas Strüngmann has been of tremendous help though and secured the long term growth of our company, based on our outstanding technology the basis for our largely improved biopharmaceuticals developed by our CEO, CSO and founder Dr. Steffen Goletz” states Dr. Hans Baumeister, COO. Even ahead of entering pipeline- and technology-related licensing agreements, Glycotope has thus been able to cover a large proportion of its expenditures via its contract research, manufacturing and diagnostics business.
About Glycotope GmbH - www.glycotope.com
GLYCOTOPE, founded in 2001, focuses on the optimization and humanization of therapeutically relevant sugar structures on biopharmaceuticals known as glycosylation and on the development of innovative antibodies targeting glycostructures on cell surfaces. GlycoExpress™, the internationally broadest, most potent and validated GlycoOptimization technology for improvement of the vast majority of antibodies & protein biopharmaceuticals and is superior in productivity and quality to current production systems. GlycoExpress™ allows to make existing and new biopharmaceutical drugs more effective and tolerable in the human body and suitable for a broader patient population, which is of considerable medical as well as economic importance. Glycotope evolved into a leading integrated glycobiology company, covering all phases in drug development such as lead optimization, preclinical and process development, GMP production down to the clinical development. Glycotope´s most advanced pipeline includes antibodies against novel targets for cancer therapy (e.g. GT-MAB 2.5-GEX™) and significantly improved versions of antibodies as well as other already marketed therapeutic proteins, so called Biobetters.
About the STEP-Award
In its fifth round more than 100 companies from Germany, Austria and Switzerland applied for the STEP Award initiated by the F.A.Z.-Institute and Infraserv Höchst. The idea of the initiators is to assist innovative and growing companies in their next “STEP” to the market and to trigger an important impulse for their successful development. With more than 500 applications over the last years from companies that are active in the prospering fields of Chemistry, Pharma, Life Science, Bio-/Nanotechnology, Medical Technology and Greentech the value of the STEP Award has been widely accepted.