Cristal Therapeutics, a Maastricht, The Netherlands-based life sciences company developing novel nanomedicines against cancer and other diseases, closed a €12.8m financing round.
Backers included Dutch oncology investor Aglaia BioMedical Ventures and Belgian DROIA Oncology Ventures, BOM, LIOF, LBDF, Chemelot Ventures, BioGeneration Ventures, Utrecht University Holding, and Nedermaas Hightech Ventures.
The company intends to use the funds to continue and accelerate the clinical development of its lead candidate CriPec® docetaxel, by executing a clinical phase Ib trial, followed by a clinical phase II trial starting later in 2017 and to intensify development of its nanotech platform for its innovative CriPec® DUO and CriPec® oligonucleotides programs.
Led by Dr Joost Holthuis, CEO, Cristal Therapeutics focuses on the development of nanomedicines with improved therapeutic efficacy against cancer and other diseases, such as chronic inflammatory disorders. Its patented CriPec® technology entangles existing and new drugs in polymer nanoparticles of less than 0.0001 mm diameter, which provide improved distribution throughout the body and a more selective release of the drugs at the desired site, such as anti-cancer drugs which are preferentially targeted to tumours.
In December 2016, the company announced a partnership with Belgian biotech iTeos Therapeutics for the development of immuno-oncology therapeutic candidates by combining CriPec® nanoparticles with iTeos small molecule immuno-modulators with the aim of optimizing the delivery of those drug candidates into the tumour microenvironment.