Crossbeta Biosciences secures funding for the development of its drug screening platform

Utrecht, The Netherlands, March 3rd, 2013 – Today, Crossbeta Biosciences announced that it has successfully secured funding to execute its plans for the next years. This financing round is based on investments by new as well as existing shareholders and includes an Innovation Grant from AgentschapNL. The proceeds will be used to further advance Crossbeta’s drug screening technology platform in several therapeutic areas where misfolded proteins play a role in the pathology and to establish drug discovery partnerships.

“This new round of investment signals that our technology represents huge potential for drug discovery in several misfolded protein disease areas such as Alzheimer’s and Parkinson’s disease. It is very rewarding to see that Crossbeta’s team has gained this level of trust from our current and new investors that we can unlock and successfully develop this potential. Today’s investment climate is harsh and we are very proud that we have obtained this significant financial commitment from investors supplemented with the financial support of the government agency AgentschapNL”, were some of the comments made by Guus Scheefhals, CEO of Crossbeta Biosciences.

Read the full Press release (pdf).