Venture capital firms Thuja Capital, BioGeneration Ventures, Nedermaas have strengthened their backing of Dutch biopharmaceutical company Cristal Therapeutics by taking part in a €6m investment round.
Netherlands-based Chemelot Ventures invested in Cristal for the first time and joined as a shareholder.
Cristal said the financing will be used to launch the first clinical study of its cancer-fighting CriPec docetaxel.
Chemelot investment manager Marcel Kloosterman said, “Cristal Therapeutics’ technology is enabling a more effective use of existing medicines with fewer side effects for the patient and also demonstrates its social relevance.
“Additionally, Cristal Therapeutics is contributing to a substantial increase in high-grade biopharmaceutical knowledge in our Limburg region in the Netherlands. We look forward to the start of the first clinical study with great confidence.”
Copyright © 2014 AltAssets