Glythera, a Newcastle-upon-Tyne, UK-based biopharmaceutical company specializing in protein/peptide functionalizazion and glycosylation, has raised £2m in a funding, which will be tranched over the next three years.
An initial £600k investment was split equally between IP Group and its managed fund, the Finance for Business North East Technology Fund. The next two tranches will be of a similar size and are contingent on certain milestones being met.
A spin-out from the University of Bath, the company recently established commercial operations at Newcastle’s INEX incubator facility and appointed Dr David Simpson as Chief Operating Officer.
Led by Chairman Dr. Anthony Baxter, Glythera specializes in the development of enhanced protein/peptide therapeutics through the use of advanced glycosylation and conjugation technologies. Its core technologies – Permalink and Permacarb – allow the selective and stable functionalization and glycosylation of biopharmaceuticals for improved stability, bioavailability and efficacy.