LEIDEN, The Netherlands and SEATTLE, Washington, January 7 /PRNewswire/
-- ProFibrix B.V., a leader in the development of innovative products for
hemostasis and regenerative medicine, today announced that SenterNovem, an
agency of the Dutch Ministry of Economic Affairs, has granted the company a
loan under its new Innovation Credit scheme of potentially up to EUR 5
million to finance the further clinical development of its unique new
The loan consists of an initial commitment of EUR 2.75 million, with the
possibility to call on an additional EUR 2.25 million when and if certain
development milestones are met.
Jaap Koopman, PhD, Chief Executive Officer of ProFibrix said: "On the
back of our recent successful B round in which we raised EUR 8 million (~ US
$11 million), we are very pleased to further solidify the financial basis of
ProFibrix. Loans under this special scheme are awarded to innovative projects
with a strong commercial potential. This loan will be instrumental in
financing the Phase II and III development of our lead product Fibrocaps."
Fibrocaps is based on a mixture of two essential blood clotting proteins,
fibrinogen and thrombin, and is a unique dry powder topical tissue sealant
that rapidly stops bleeding after or during surgery. Fibrocaps has major
advantages over existing liquid tissue sealants: it is ready for immediate
use, is stable at room temperature, highly effective and fast acting.
Fibrocaps is currently in a Phase II clinical trial in the Netherlands with
results expected early in 2010.
ProFibrix expects to submit an Investigational New Drug Application (IND)
for Fibrocaps to the U.S. Food and Drug Administration in the first half of
2010, and to conduct a combined phase II/III pivotal study in various
ProFibrix will present at the Biotech Showcase, which takes place in
conjunction with the JP Morgan Healthcare Conference in San Francisco, on
Tuesday, January 12, 2010 at 8:40 a.m. in the "Regimental" room at the
Marines' Memorial Club & Hotel, 609 Sutter Street, San Francisco.
ProFibrix (http://www.ProFibrix.com) was founded in 2004 and is
headquartered in Leiden, The Netherlands, with a subsidiary in Seattle, WA,
USA The company leverages its expertise in fibrinogen technology to develop
and market innovative products for the hemostasis and regenerative medicine
markets. Human fibrinogen plays a pivotal role in blood clotting and tissue
healing. ProFibrix is led by a team with extensive commercial, clinical and
scientific experience in the hemostasis field.
About SenterNovem and the Innovation Credit scheme
SenterNovem (http://www.senternovem.nl) is an agency of the Dutch
Ministry of Economic affairs that promotes sustainable development and
innovation with various financial instruments. The Innovation Credit
(innovatiekrediet) scheme is aimed at supporting high risk, and commercially
attractive development projects with an interest-bearing loan of which
repayment is waived if the project fails.
SOURCE ProFibrix B.V.