Scil Proteins concludes financing round with BioNet Holding for €24 million

Scil Proteins today announced that it has concluded a financing round with its existing investor, BioNet Holding, worth €24 million. The funds are intended to finance the development of two products derived from the Company's Affilin® platform into clinical Phase I over the next three years. Further terms of the financing were not disclosed.

Scil Proteins' Affilin® therapeutics are so called scaffold proteins derived from the human protein Ubiquitin. Affilin® molecules are high affinity binders with excellent target specificity. The Affilin® platform has successfully delivered target specific molecules, which have subsequently shown activity in animal models, within only a few months. Scil Proteins intends to advance into clinical development two Affilin® therapeutic candidates targeting cancer indications.

Dr. Ulrike Fiedler, CEO of Scil Proteins, commented:

"BioNet Holding has supported Scil Proteins from its inception. They recognise the achievements and the enormous potential of our technology, and decided to back the company once more as the sole investor."

Source: Scil Proteins

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