Lupus Ventures Takes Stake in Glycostem
December 2017 - Netherlands-based Lupus Ventures has invested €3 million in Glycostem, furthering the company’s expansion and ongoing technological development. Glycostem will channel this funding primarily to production optimisation and automation.
The Lupus investment brought closer to realisation a primary goal; having in place a completely closed production system. This would in turn allow Glycostem to leverage EMA’s latest update to ATMP manufacturing, thereby reducing the expense of production implementation.
Troels Jordansen, Glycostem’s CEO, said, “Lupus is a uniquely dynamic shareholder and investor. Their directors recognised the opportunity presented by Glycostem’s technology, clinical data and management team. Benefitting from the talent and professionalism of the board of directors, we will execute, achieve milestones more quickly and move forward asa company and a technology.” Jordansen adds, “Lupus has already proved to be a great asset, in terms of strategic decision-making. We look forward to a long and mutually beneficial association.
”Lupus Ventures Director Cees de Wolff said, “It’s not every day that an opportunity like Glycostem comes along. The very encouraging clinical trial data, the recent advancements in technology, favourable EMA regulations, as well as the powerful management team they (Glycostem) put together presents quite a package.” He adds, “Investing in healthcare, particularly in innovative oncology solutions at this level, is an extremely exciting prospect. We are very much looking forward to working with Glycostem management to accelerate development of this potentially revolutionary curative product.”