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September 8th, 2005
Xigen Closes CHF 26 Million Financing – Company Developing Peptide Therapeutics for Wide Range of
Medical Problems
Xigen S.A., based in Switzerland
has secured the equivalent of $21 million United States dollars (CHF 26 Million) as part of it efforts in the development
of intracellular peptide therapeutics.
The Series A round’s investors included Tilocor
Life Sciences, Venture Incubator and Initiative Capital. Dr. Diego Braguglia, Xigen Chairman, saw the investment as further
confirmation of its products, "This major series A financing round provides an additional validation of the potential of Xigen's
products and technology and acknowledges the great progresses made during the last year in the development of Xigen's lead
compound XG-102 for stroke." Intracellular peptide therapeutics, besides stroke are used in the treatment of myocardial infarction
and cancer.
Xigen, along with the announcement, reported that presently
there are no neuroprotectants on the market for stroke treatment.
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