Antibody Engineering Company F-Star Buys Back Royalty Obligations

Saturday, March 29, 2008 General News
Email Print This Page Comment bookmark
Font : A-A+

VIENNA, Austria, March 28 f-star, an antibody engineeringcompany developing novel antibodies and antibody fragments based on itsunique Modular Antibody Technology, announced today that it has acquiredfuture royalty obligations to New Century Pharmaceuticals (NCP) via a one-offpayment.

Modular Antibody Technology was originally developed by Prof. FlorianRueker, one of f-star's founders, in collaboration with NCP, a U.S.biopharmaceutical company. After f-star's foundation, NCP became one of theCompany's common shareholders and had rights to future royalty payments. Inthe course of the transaction, f-star has now bought back these royaltyobligations and TVM Capital, a transatlantic venture capital firm based inMunich and Boston, acquired NCP's minority stake in f-star.

"We are very pleased that our technology is now essentially free ofroyalty obligations," Gottfried Himmler, CEO of f-star, commented on thetransaction. "And we are delighted to have TVM Capital, one of the leadinglife science investors in Europe, joining f-star's strong internationalinvestor syndicate."

"It is an honor to become an investor in one of the leadingnext-generation antibody companies and to join this distinguished syndicate,"Axel Polack, General Partner TVM Capital, commented.

About f-star

f-star is an antibody engineering company based in Vienna, Austria. TheCompany develops improved therapeutic antibodies and antibody fragments basedon its Modular Antibody Technology, which allows the introduction ofadditional binding sites into antibodies and antibody fragments byengineering the non-CDR loops of constant or variable domains. Using ModularAntibody Technology, antibody fragments with antibody functionality and longhalf-life but much smaller size (Fcab(TM)) or full antibodies with additionalfunctionality (mAb squared) can be created.

f-star was founded by a team of experienced antibody engineering andbiotech executives in 2006. Seed-financed by Austrian government agencies andAtlas Venture, the Company recently closed a Series A financing round withAescap Venture, Atlas Venture and Novo A/S and has raised EUR 13.0m in totalso far. In its advisory board, the Company is supported by pioneers in thefield of monoclonal antibodies. f-star has 18 employees at its headquartersin Vienna, Austria and recently opened a second research site in Cambridge,UK.

For more information, visit

About the TVM Capital Life Science Practice

The TVM Capital Life Science Practice is, with EUR 900m (USD1.3bn) undermanagement, one of the largest investors in venture and growth deals inbiotechnology and pharmaceuticals in Europe, with a strong presence in theU.S. and a growing presence in Asia. The Life Science team builds on theexpertise, experience, international approach and demonstrated success inmore than 100 previous investments and more than 30 IPOs from itsbiotechnology and pharmaceutical portfolio of companies.For more information, visit Company contact: Dr. Eugen Stermetz, CFO f-star Biotechnologische Forschungs- und Entwicklungs-GmbH +43-72055-4215 Gastgebgasse 5-13 1230 Vienna, Austria Media contact: Frank Butschbacher Investor Relations & Communications +43-650-78-44-940

SOURCE f-star Biotechnologische Forschungs- und Entwicklungs-GmbH

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z


News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store