PRESS RELEASE
Groningen, The Netherlands, February 7, 2019
BiOrion Technologies BV has raised funding from a consortium of two existing and one new investor for its further clinical validation programs in fibrosis and fibrotic cancers.
BiOrion Technologies BV (BiOrion), a biopharmaceutical drug discovery company, develops products for the diagnosis and treatment of fibrosis and fibrotic cancers. Fibrosis is the consequence of chronic cycles of tissue injury and repair, leading to the accumulation of scar tissue in affected organs and disruption of normal tissue architecture and function. Fibrosis is the final common pathway in virtually all forms of chronic organ failure e.g. liver, lungs and kidneys, ultimately leading to organ transplantation or death. Similar fibrosis mechanisms appear in some solid cancers, that are aggressive and frequently metastasize and show strict dependence on fibrosis-rich stroma.
BiOrion has raised additional capital from new investor Pharma Connect Capital, existing investor Carduso Capital and the Management Team for the clinical validation of its proprietary drug-targeting technology. In drug targeting, drugs are delivered specifically to cells that cause the disease and not to the healthy cells. Thus, such therapy will be more effective with fewer side effects. The most recent targeting technology of BiOrion is developed in house. This new technology provides opportunities to develop both high affinity binding drugs as well as imaging diagnostics for fibrosis, based on the same technology platform. The clinical validation study is scheduled for the next few years, allowing targeted therapy leading to fibrosis resolution.
About BiOrion
BiOrion is a Dutch biopharmaceutical drug discovery company involved in developing targeted therapeutics and companion imaging diagnostics for myofibroblast-associated diseases, such as hepatic fibrosis, renal fibrosis, cardiac fibrosis, idiopathic pulmonary fibrosis and fibrosis-associated cancers such as colorectal cancer.
BiOrion’s platform and drug development engine is based on proprietary PDGF-ß-receptor binding peptides and VHH nanobodies. PDGF is one of the main drivers of fibrosis, and its receptor is specifically over-expressed on the key pathogenic cells: the myofibroblasts. This allows cell-specific targeting of diagnostic labels and (existing) antifibrotic drugs. For more information about BiOrion: www.biorion.com.
About Pharma Connect Capital
Pharma Connect Capital is an investment firm based in Groningen, The Netherlands, and invests in early stage drug development, drug delivery technologies, biomarkers and diagnostics. Academic concepts and innovative ideas from pharma & biotech companies are supported by Pharma Connect Capital to reach the initial proof of concept stage. Pharma Connect Capital invests in startup companies located in Groningen, Friesland & Drenthe with a mission to develop new drugs, drug delivery technologies, biomarkers or diagnostics.
For more information on Pharma Connect Capital: www.pharmaconnectcapital.com.
About Carduso Capital
Carduso Capital is an investment firm based in Groningen, The Netherlands that participates in innovative technology companies that have strong technology links with the University of Groningen (RUG) and the University Medical Centre of Groningen (UMCG) and its affiliates. Carduso Capital believes it is important to invest in innovative companies that are early stage or at a certain moment search for capital to finance their growth. Carduso Capital supports initiatives within the main themes Life Sciences and Energy and aims for long-term cooperation’s. Besides participations with capital Carduso Capital also provides proactive management support and the use of its broad international network.
For more information about Carduso Capital: www.cardusocapital.com.
