Glycoform Closes Funding Round

30th May 2004

Glycoform Ltd announced the successful closure of a funding round which raised £960,000. The Isis College Fund, managed by Quester Capital Management Limited, invested for the first time alongside existing shareholders.

About Glycoform

Glycoform is a leader in synthetic glycochemistry and protein glycosylation. The Company applies this technology platform to novel and established therapeutic proteins and to novel glyco-targeted drug delivery systems. The Company’s IP arose from the research of Dr Ben Davis and Dr Antony Fairbanks in the Department of Chemistry in Oxford. In 2003 Dr Davis was named as one of the world’s 100 Top Young Innovators by the Massachusetts Institute of Technology (MIT). The TR100, chosen by the editors of MIT’s Technology Review and an elite panel of judges, consists of 100 individuals under 35 whose innovative work in technology has a profound impact on today’s world.

Iain Wilcock, Director of Quester, said “The Isis College Fund is delighted to have the opportunity to support another high quality spin out from Oxford. Glycoform is an exciting addition to The Isis College Fund”.

Dr Ian Rubin, Glycoform Chief Executive Officer, commented, “Having joined the Company very recently, I am delighted that we have been able to secure funding to take Glycoform to the next stage. We will use some of the funds to migrate the Company to its own, leased laboratory space in Milton Park, Abingdon and to drive forward three therapeutic glycoprotein programmes into early development. Each of these programmes has significant commercial potential and will demonstrate different aspects of the scope of our technology. With this current technology, world-class scientists and now the support of existing and new shareholders, we have the opportunity to become world leaders in this field.”

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