Funding
Sistemic Ltd has announced that it has closed a $1 million funding round with lead investors ChimeraBio and the Scottish Enterprise Scottish Co-Investment Fund.
The Glasgow-based company will use the funding for the further develop its proprietary SistemRNA drug discovery technology.
SistemRNA is a microRNA-based platform that screens compound databases against the microRNA expression profiles of leading drugs, to find compounds with similar profiles. This process generates information on biological differences, mechanism of action and potential new targets.
Sistemic’s CEO and founder Chris Hillier, who is a professor at Glasgow Caledonian University, said, “We are able to rapidly release significant asset value for pharma and biotech partners. In addition to de-novo discovery, there are major opportunities in repositioning, re-purposing and lifecycle extensions.”
“Our first contracts have been in oncology but this is a broadly applicable approach. The new funding will enable us to expand our knowledgebase, for example, in cardiac and anti-inflammatory [drugs] and to accelerate commercial operations.”
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