Home   Kent Business   County news   Article

Anti-cancer technology developer Agalimmune bought by Israel-based BioLineRx for $6m

By Chris Price

A developer of anti-cancer technology has been bought in a multi-million pound deal by an Israeli business.

Sandwich-based Agalimmune has been snapped up for $6 million (£4.7m) by Tel-Aviv based BioLineRx, which focuses on treating tumours and boosting the immune system.

Its research has created a synthetic compound which encourages the body’s natural antibodies to fight the spread of cancer.

Scientists in the Agalimmune labs at Discovery Park, Sandwich

Scientists in the Agalimmune labs at Discovery Park, Sandwich

Pre-clinical studies have been positive and shown robust protection against secondary tumours.

The first in-human trials targeting solid tumours are set to get underway in the first half of next year.

Agalimmune will become a UK subsidiary of BioLineRx and will keep its laboratories at Discovery Park, the business estate which is home to a cluster of drug discovery and development companies.

Former chief executive Damian Marron said: “We are very excited that we have found an ideal partner for our promising therapeutic pipeline.

“We are extremely impressed by BioLineRx’s proven drug development capabilities, as well as their meaningful collaborations with global pharmaceutical companies.

“We strongly believe in the value of our unique platform and we look forward to its accelerated clinical development by BioLineRx with the ongoing support of our talented team of scientists at Discovery Park.”

Established in 2013 and headquartered in London, Agalimmune also has labs in Boston, Massachusetts.

It moved its research centre from Cambridge to Sandwich after a successful grant application to Kent County Council’s Expansion East Kent fund.

The payment for its takeover was split between $3 million (£2.3m) in cash and the rest in BioLineRx shares.

Join the debate...
Comments |

Don't have an account? Please Register first!

The KM Group does not moderate comments. Please click here for our house rules.

People who post abusive comments about other users or those featured in articles will be banned.

Thank you. Your comment has been received and will appear on the site shortly.

 

Terms of Comments
We do not actively moderate, monitor or edit contributions to the reader comments but we may intervene and take such action as we think necessary, please click here for our house rules. If you have any concerns over the contents on our site, please either register those concerns using the report abuse button, contact us here, email multimediadesk@thekmgroup.co.uk or call 01634 227989.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More