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AlgoNomics haalt 1,5 miljoen euro op PDF

Ghent, Belgium - June 20, 2007 - AlgoNomics NV, the immunoprofiling company, announced today that it raised 1.5 million euro (about 2.0 million USD) to further accelerate the development of its in vitro screening platform that expands the company’s existing immunogenicity screening services and tools.

The patented Epibase® screening tool is currently widely applied for the immunogenicity screening and optimization of biotherapeutics, such as therapeutic antibodies, biosimilars and vaccines.

According to Dr. Lasters, CEO of AlgoNomics, “The fast roll-out of our in vitro immunogenicity screening platform has been the primary objective of the company, and the new funds allow us to increase the research and development of novel, standardized ways of addressing immunogenicity”.

Philippe Stas, COO of AlgoNomics, “The current investment allows us to further build on our dominant market position in immunogenicity screening, and to evaluate new technologies extending our current immunogenicity service offerings.”

The financing round was led by the new investor Baekeland Fund II, and subscribed by the Gemma Frisius Fund and TrustCapital. In addition, VIB, the Flanders Institute for Biotechnology, participated as well.

About Epibase

Epibase® estimates to what extent a given therapeutic protein may lead to an immune response in patients. The computer-based platform focuses on T-cell epitope identification. The uniqueness of Epibase® resides in its capability to identify the T-cell epitopes specific for HLA types covering most of the human population (including Caucasian, Oriental and Afro-American), including the majority of HLA sub-types for which little or no experimental data is available.

About immunogenicity

All therapeutic proteins show some level of immunogenicity, a side effect where the patient recognizes the drug as a "foreign" substance. This causes the patient's immune system to mount a defence against the therapeutic drug, resulting in significant reduction of efficacy and a rapid clearance of the drug from the circulation. The process is driven by the presence of T-cell epitopes in the protein – fragments binding to HLA receptors and inducing a T-cell response. There is a growing consensus about the need for early adoption and standardisation of immunogenicity assessments for biologicals.

About AlgoNomics

AlgoNomics is a Belgium based biotech company providing structural bioinformatics services to develop rationally designed therapeutics in the broad field of immunotherapy. AlgoNomics owns a rich, proprietary platform for structure-based protein and peptide design. The technology platform contains innovative tools to unravel protein-protein and protein-peptide interactions.
AlgoNomics’ premier product is the Epibase® platform for T-cell epitope identification in different population groups, applied in the discovery of vaccines and therapeutic proteins.

For more information about AlgoNomics, visit www.algonomics.com

About Baekeland Fund II

In 2005 the partners of the Ghent University Association, together with Fortis Private Equity Belgium, KBC Private Equity, Ethias, Volksvermogen and the ARKimedes Fund, established a second university capital fund: Baekeland Fund II. This fund was created with a capital of EUR 11.1 million. Baekeland Fund II is building on the positive experience of the first Baekeland Fund. In the first five years, Baekeland Fund II will invest in some ten different, mainly high-tech companies that have grown out of research labs at Ghent University, Hogeschool Gent, Arteveldehogeschool or Hogeschool West-Vlaanderen.

As a seed- and early stage investment company, Baekeland Fund II hopes to invest in start-ups in following rounds realizing a commercially acceptable return. Baekeland Fund II is operationally managed by the Technology Transfer Department of Ghent University, assisted by investment managers from KBC Private Equity and Fortis Private Equity Belgium.

For more information, see www.baekelandfonds.be.

About VIB

VIB is a public research institution dedicated to conduct frontline research in fields such as angiogenesis, immunology, oncology, neurobiology, infectious diseases, microbiology, plant sciences, protein chemistry, bioinformatics and system biology. VIB has worldwide collaborations with academia and industry and (co-)founded start-ups such as Devgen, CropDesign, Ablynx, Pronota, Actogenix and Solucel. VIB provides 12.000 m² bio-incubator space to local and international biotech companies. VIB is also actively involved in science communication.

For more information, see www.vib.be.

About Trustcapital

TrustCapital is the private equity division of Koramic Investment Group, a privately held diversified asset management firm.

About Gemma Frisius Fund

Gemma Frisius Fund K.U.Leuven (GFF) is a seed capital fund, established in 1997 as a joint venture between K.U.Leuven, the KBC Group and the Fortis Group. The objective of the fund is to stimulate the creation and growth of university related spin-off companies at K.U.Leuven by providing seed capital in their very early phases and by combining the research & technology transfer expertise of the university with the financial and investment expertise of the financial partners.

Gemma Frisius Fund I, totalling 12.5 million euro, was founded in October 1997. During the period 1997 to 2002, Gemma Frisius Fund I invested a total amount of 9 million euro in 16 spin-off companies. In 2002 Gemma Frisius Fund II was founded with a starting capital of 6 million euro, which can be extended to 12.5 million euro. Gemma Frisius Fund II will invest in new K.U.Leuven spin-off companies during the period 2002 to 2005.

Further information:

AlgoNomics N.V.
Philippe Stas
Chief Operating Officer
Technologiepark 4
B-9052 Gent – Belgium
Tel.: +32.(0)9.241.11.00
Fax.: +32.(0)9.241.11.02