Clinquest Takes Stake in Enceladus
Investments provide boost for clinical development of Enceladus´ Nanocort®
AMSTERDAM, the Netherlands June 26th 2007--Enceladus Pharmaceuticals and Clinquest Group, both based in Amsterdam, the Netherlands, today announce the signing of an investment and collaboration agreement. Under the terms of the agreement, Clinquest acquires a stake in Enceladus and has led a syndicate of investors to provide additional funding. Financial details are not disclosed. Enceladus will use the new funds for the ongoing clinical development of its proprietary anti-inflammatory drug Nanocort® as a treatment for active Rheumatoid Arthritis.
"The participation of Clinquest in our activities allows us to
complete the phase IIa clinical proof of concept trial with
Nanocort that is currently ongoing in the Netherlands. Therefore
this means a major boost to our clinical development track", said
Bart Metselaar, founder and CEO of Enceladus. "Furthermore, this
collaboration means that we can tap into Clinquest´s vast
expertise in drug development and start development of Nanocort for
other indications. I am particularly pleased that, as part of the
deal, Clinquest´s CEO Cees Wortel will be joining the
Enceladus management team as acting chief medical officer. This
way, we can really benefit from his longstanding experience in
clinical development."
Cees Wortel, CEO of Clinquest Group, commented on the agreement:
"We strongly believe in Enceladus´ technology position and
the promise of Nanocort. By entering in this risk-sharing
arrangement, we are able to support the further development of
Nanocort and the entire liposomal development platform most
efficiently. "
About Enceladus Pharmaceuticals
Enceladus Pharmaceuticals is a young drug development company
originating from Utrecht University, the Netherlands. Enceladus
develops Nanocort®, an innovative pharmaceutical that consists
of corticosteroids (anti-inflammatory agents) packaged in
specifically designed small lipid vesicles. After intravenous
injection, the vesicles selectively accumulate in diseased sites in
the body, where they release their anti-inflammatory content. As
such, Nanocort allows for target-specific corticosteroid therapy,
which is expected to result in a higher efficacy and less side
effects when compared with systemic corticosteroid treatment.
Potential applications of Nanocort are inflammatory disorders such
as Rheumatoid Arthritis (RA) and Multiple Sclerosis (MS) and
certain types of cancer.
Nanocort is currently Enceladus´ main product. The company
envisions finding inventive combinations of drugs and drug carrier
systems, both of which in separate form have been previously
evaluated in the clinic. Using this practical approach, Enceladus
can effectively design new prototype therapeutics that require
relatively straightforward clinical development tracks. The company
is based in Amsterdam, the Netherlands.
http://www.enceladus.nl"
About Clinquest Group
The Clinquest Group is a trusted Healthcare Product Development
Organization (PDO), which offers comprehensive product development
services to the bio-pharmaceutical, medical device, diagnostics and
medical data industries worldwide. Clinquest provides high-level
strategic consulting as well as hands-on implementation services.
Clinquest is recognized as a leader in the development of new,
breakthrough technologies, first-in-man clinical trials and complex
clinical studies. The Clinquest Group operates through three
wholly-owned subsidiaries: Clinquest Inc., Clinquest Europe and
Clinquest Pharmaceutical Innovations. The company is headquartered
in Amsterdam, the Netherlands, and has offices in the USA and
Singapore.
http://www.clinquest.com"
Contact:
Enceladus Pharmaceuticals B.V.
Bart Metselaar, CEO
T: +31 (0)626 946 014
E: info@enceladus.nl">info@enceladus.nl
Kruislaan 406
1098 SM Amsterdam
The Netherlands
Posted: June 2007
