MACCABIM, Israel, Nov. 6 /PRNewswire/ -- Glycominds Ltd. today announced the successful completion of a $7.1 Million private placement. Glycominds is a biotechnology company pioneering new glycomics technologies for analyzing the interactions between complex carbohydrates (glycans) and proteins. Glycominds' technologies have created a breakthrough in elucidating these interactions and are expected to help identify many new drug targets as well as dramatically improve early-stage drug development.
The company's proprietary GlycoChip(TM) is the first biochip that serves as a micro-array of complex carbohydrates, enabling the analysis of unprecedented numbers of glycan-protein interactions en masse. The GlycoChip has a large number of uses in the biopharmaceutical industry including: the identification of novel carbohydrate binding proteins, identification of New Chemical Entities as potential inhibitors of glycan protein interactions, and analysis of immunogenicity by assaying serum samples for antibody-glycan binding.
Glycominds has also created the world's largest comprehensive database of glycan sequences, which is expected to reach approximately 6,000 validated glycan sequences by the end of the year. The database was generated, and will continue to grow, by combining relevant information from vast numbers of published scientific literature along with the data obtained from the GlycoChip.
Glycominds was founded by CEO Dr. Avinoam Dukler and President and CTO Dr. Nir Dotan in 1999.
The investment round was led by Israel's Millennium Materials Technologies Fund L.P. and included the participation of other venture capital funds as well as Germany's Schott Glas, the high-tech manufacturer of special glass and other special materials.
For more information:
Glycominds Ltd.
Renanim Center, POB 11407
Maccabim 71908, Israel
Tel: 972-8-9267159
Fax: 972-8-9261266
ContactUs@glycominds.com
www.glycominds.com |
