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Austria's F-star raises $22 million

Thursday, April 14, 2011 11:31 AM

F-star, an Austrian biotechnology firm, has raised $22 million in a financing led by SR One, the corporate venture capital arm of GlaxoSmithKline, according to Pharma Times.

F-star uses its 'modular antibody technology' platform to generate biotherapeutics. Deborah Harland, SR One Partner and board member, said “we believe the platform has the potential to generate numerous novel differentiated biologics with advanced efficacy, tissue penetration and targeting capabilities compared to traditional antibodies.”

Kevin FitzGerald, F-star's chief executive, said that with this financing "we are now ideally placed to progress the first product candidates generated from our unique platform through investigational new drug-enabling studies and thereafter into the clinic."

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