Cristal Therapeutics looks at $13.6m future

The Utrecht University spinout has obtained money from a range of state-backed entities, including Brabant Development Agency and Limburg Development and Investment Company.

Cristal Therapeutics, a spinout of Utrecht University working on therapies for cancer and other diseases, has closed a €12.8m ($13.6m) funding round that included Utrecht University Holdings.

The round was led by Aglaia Biomedical Ventures and Droia Oncology Ventures, while state-owned entities Brabant Development Agency and Limburg Development and Investment Company also participated.

Chemelot Ventures, BioGeneration Ventures, Nedermaas Hightech Ventures and Cristal’s founders also provided cash.

Cristal Therapeutic’ lead candidate Cripec is an anti-cancer drug that relies on nanoparticles to fight solid tumours. The product has passed a phase 1a clinical trial and will now head into a phase 1b trial, with a phase 2 trial scheduled for later this year.

Cristal Therapeutics is based on research conducted at Utrecht University’s Department of Pharmaceutics. It was co-founded by Cristianne Rijcken and Joost Holthuis.

The money raised will support the aforementioned clinical trials and will support further development of Cristal’s nanotechnology platform.

In 2014, Chemelot, Thuja Capital, BioGeneration Ventures, Nedermaas, Utrecht University Holding and Beheer Innovatiefonds Provincie Limburg provided €6m in funding.

Thuja, BioGeneration Nedermaas and Innovatie Fonds Limburg provided an undisclosed sum in 2013, following a seed round of undisclosed size in 2012 co-led by BioGeneration and Thuja, with participation from Utrecht University Holding.

– This article first appeared on our sister site Global University Venturing.

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