Corporate Banner
Satellite Banner
Biomolecular Screening
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Domain Therapeutics Closes EUR Two Million Funding Round

Published: Wednesday, July 18, 2012
Last Updated: Wednesday, July 18, 2012
Bookmark and Share
The funds will enable the company to strengthen its position as a strategic collaborative partner to the pharmaceutical industry for discovering drugs targeting GPCRs.

Domain Therapeutics has announced that it has completed a EUR two million financing round.

Half of the funds have been provided by a new investor, Seventure Partners and the other half has been committed by another new investor, SODIV and Domain’s existing shareholders - AIRFI, IP Growth, Auriga and Sam Eletr, the chairman of Domain’s board.

Domain Therapeutics’ business model is currently transitioning from contract research activities for the pharmaceutical industry to collaborations and strategic alliances with existing clients and new partners. The new financing will support this evolution.

During the past three years Domain has validated its innovative approach and is now strengthening its proprietary drug discovery platform DTect-All™ with complementary technologies to better respond to the GPCR market needs.

In addition, some 30 high-throughput screening assays targeting high-potential GPCRs will soon be added to the company’s existing portfolio.

Domain Therapeutics is also moving forward with its internal research programs focusing on Alzheimer’s disease and depression (mGluR2 NAM), Parkinson’s disease (mGluR3 PAM - supported by the Michael J. Fox Foundation) and schizophrenia (undisclosed orphan GPCR – supported by a government grant).

“Domain Therapeutics has succeeded in becoming a recognized player in GPCR drug discovery and we have been very impressed by the company’s recent achievements,” said Sebastien Groyer, partner at Seventure Partners.

Groyer continued, “The pharmaceutical industry is increasingly externalizing its R&D projects and sourcing its future drug candidates from innovative start-ups. We, therefore, believe in the success of Domain Therapeutics’ model and are delighted today to join the company as it embarks on another phase of strong value creation.”

The market for GPCRs is the largest in terms of current therapeutic targets. It accounts for over 40 per cent of the drugs currently on the market and represents annual sales of more than USD 40 billion.

Yet the therapeutic potential of this receptor family still remains very significant and largely underexploited, since drugs acting on GPCRs address only fifteen per cent of this class of therapeutic targets.

The DTect-All™ platform is doubly innovative compared with classic approaches to the discovery of new drug candidates. It makes it possible to work on the most difficult GPCRs: those that have not resulted in the discovery of any new drugs up to now.

It also permits the selective discovery of allosteric modulators, which have greater therapeutic interest than conventional drugs but remain more difficult to identify using traditional screening methods.

“We are very pleased with the confidence placed in the company by our new investors and are very grateful to our historic shareholders for renewing their support,” said Pascal Neuville, chief executive officer of Domain Therapeutics.

Neuville continued, “After breaking even financially two years ago, thanks to our contract research business, this injection of capital will be dedicated to accelerating the transition towards the next step of value creation and will enable the company to stay at the forefront of GPCR drug discovery.”


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,400+ scientific posters on ePosters
  • More than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Domain Therapeutics Appoints Professor Michel Bouvier
The world-renowned GPCR specialist will assemble a team of experts in drug discovery and development to guide Domain’s programs.
Tuesday, September 23, 2014
Domain Therapeutics Enters into Collaboration with XOMA
DTect-All™ platform will be used to screen for GPCR-directed allosteric modulator antibodies.
Wednesday, February 05, 2014
Domain Therapeutics Opens a North American Subsidiary at Montreal's NEOMED Institute
Canada-based Domain Therapeutics NA Inc. will focus exclusively on leveraging the BioSens-All™ technology.
Tuesday, January 21, 2014
Domain Therapeutics, Universite de Montreal, IRICoR and McGill University Sign Agreement
New licensing and partnership agreement on G-Protein Coupled Receptor biosensor technology.
Thursday, December 26, 2013
Domain Therapeutics and Ono Sign Collaboration Agreement
Collaboration agreement in the field of GPCR-based drug discovery.
Tuesday, October 23, 2012
Domain Therapeutics Wins EUR 933,000 Grant for Schizophrenia Project
GPCR specialist will lead EUR 5.1 million ATHOS Project to develop new therapies.
Wednesday, March 14, 2012
Domain Therapeutics and Merck Serono Announce an Agreement to Develop Drugs for Parkinson’s Disease
Domain Therapeutics and Merck Serono Announce an Agreement to Develop Drugs for Parkinson’s Disease.
Monday, January 17, 2011
Scientific News
RNAi Screening Trends
Understand current trends and learn which application areas are expected to gain in popularity over the next few years.
Sweet Revenge Against Superbugs
A special type of synthetic sugar could be the latest weapon in the fight against superbugs.
Access Denied: Leukemia Thwarted by Cutting Off Link to Environmental Support
A new study reveals a protein’s critical – and previously unknown -- role in the development and progression of acute myeloid leukemia (AML), a fast-growing and extremely difficult-to-treat blood cancer.
Long-sought Discovery Fills in Missing Details of Cell 'Switchboard'
A biomedical breakthrough reveals never-before-seen details of the human body’s cellular switchboard that regulates sensory and hormonal responses.
Tracking Breast Cancer Before it Grows
A team of scientists led by University of Saskatchewan researcher Saroj Kumar is using cutting-edge Canadian Light Source techniques to screen and treat breast cancer at its earliest changes.
Zebrafish Reveal Drugs that may Improve Bone Marrow Transplant
Compounds boost stem cell engraftment; could allow more matches for patients with cancer and blood diseases.
DNA Damage Seen in Patients Undergoing CT Scanning
Along with the burgeoning use of advanced medical imaging tests over the past decade have come rising public health concerns about possible links between low-dose radiation and cancer.
The Light of Fireflies for Medical Diagnostics
EPFL scientists have exploited the light of fireflies in a new method that detects biological molecules without the need for complex devices and high costs.
Vital Protein in Healthy Fertilization Process Identified
Researchers at the National Institutes of Health have discovered a protein that plays a vital role in healthy egg-sperm union in mice.
Teeth Reveal Lifetime Exposures to Metals, Toxins
Researchers have identified dental biomarkers to reveal links between early iron exposure and late life brain diseases.
SELECTBIO

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!