AVIDEX ANNOUNCES INVESTMENT BY SYNGENTA
4 January 2006
Oxford (UK), Avidex, the UK based biopharmaceutical company, announces today that Syngenta AG of Switzerland has made an investment of £5 million in Avidex in exchange for a minority equity stake. Avidex also wishes to announce that Dr I an Kimber of Syngenta will join the Board of Directors of Avidex effective January 1, 2006.
Dr Neill Moray Mackenzie, Chief Business Officer of Avidex, commented, “We are extremely pleased that Syngenta has invested in Avidex at this time and that Ian Kimber will join us. Dr Kimber is a well-known and well-respected immunologist with interests in all aspects of allergy and allergic disease which is one of our non-core therapeutic areas.”
About Avidex
Avidex is a biotechnology company focused on the development of small molecule modulators of T cell function and protein therapeutics based on T cell receptors. Avidex has key programmes leading to novel treatments in cancer, inflammation, autoimmune diseases and now allergy. Its breakthrough monoclonal T cell receptor (mTCR) technology enables the production of fully human, soluble T cell receptors. These mTCRs can deliver immunological effector molecules to cancer cells, and can block activation of T cells in autoimmune disease.
Avidex is developing these programmes and its strategy is to take products through final development phases and to the market through corporate alliances. Avidex also commercialises its proprietary mTCR platform through partnerships.
Avidex was formed in 1999 as a spin out from Oxford University. The Company employs 36 staff and is based in Milton Park, near Oxford, UK. The Company has raised over £30 million to date, and investors include Advent Venture Partners and Quester.
www.avidex.com
About Dr Ian Kimber
Dr Ian Kimber is a Syngenta Principal Fellow with special interests in, and responsibilities for, immunology, allergy and inflammation. He is based at the Syngenta Central Toxicology Laboratory in Cheshire UK and has served Syngenta, and its legacy companies, for more than 20 years in a variety of scientific and management positions.
His current research interests include all aspects of allergic sensitisation and allergic disease, the biology of dendritic cells and the regulation of cutaneous immune function. Dr Kimber has published over 450 research papers, review articles and book chapters and sits on the editorial boards of immunology, pathology, dermatology and toxicology journals. In addition he serves on a variety of national and international scientific advisory boards and expert committees... |
