GlycoDisplay successfully completed the first milestone with undisclosed partner
GlycoDisplay has a good reason to feel that things are moving forward. The company not only moved in to bright new laboratories with a fantastic view, they have also just received DKK 966.900 from the InnoBooster program (Innovationsfonden) for the project “Glycoengineering of Biopharmaceuticals” with total budget of 2.930.000 DKK.
Finally yet importantly, GlycoDisplay has successfully completed the first milestone for glycoengineering of a lysosomal enzyme with an undisclosed partner. Therefore, CEO Claus Kristensen is confident that GlycoDisplay has a good case:
“The Innobooster funding demonstrates trust in our technology and our first milestone achievement fully demonstrates the power and perfect fitness of our glycan display platform for optimizing complex proteins in partnership with an established biopharma company,” says Claus Kristensen.
Spinout from world leading center
GlycoDisplay Aps is a spinout from the Danish National Research Foundation Excellence Center for Glycomics, at the University of Copenhagen. This center is world leading within the field of glyco-engineering, which is GlycoDisplay’s core and novel patented technology used to modify sugar structures on glycoproteins to develop novel biopharmaceuticals.
“We can modify sugar structures on glycoproteins to develop novel biopharmaceuticals, and our patented technology is based upon recent breakthrough within targeted cell engineering combined with GlycoDisplay’s core expertise area of human cell glycomics,” Claus Kristensen explains.
“Our Innobooster project targets Lysosomal Storage Diseases. Existing enzyme replacement therapies for these diseases cannot reach all affected organs. We hope to provide Enzyme Replacement Therapies version II by modifying the sugar structures and thereby make the treatment have effect on all symptoms,” says Claus Kristensen who expects to sign one more collaboration agreement this year.
Optimization of glycan structures
“It is well established that glycan structures are important for circulation and efficacy of glycoprotein therapeutics,” says Claus Kristensen. “Currently there are no systematic technologies available that enable experimental testing and optimization of glycan structures on protein therapeutics. Concurrently there is a huge and documented need among pharma companies for a fast and cost-effective platform to display different glycan structures on drug candidates for testing and optimization. Proof of concept studies demonstrate that glyco-engineering may improve efficiency of biopharmaceuticals markedly compared to existing drugs.”
The leading partner for glyco-engineered biologics?
“Our strategy is to establish several proof of concept partner projects along with documenting the technology in scientific articles. Our long-term vision is to become the leading partner for glyco-engineered biologics as a whole, which is a 100-billion-dollar market. Our business model is to develop specific drug programs leveraging our expertise in glyco-engineering in close collaboration with pharmaceutical companies. We deliver design and display glycoprotein variants and pharma partners will add disease knowhow, assays and animal models. Licensing terms will include milestone payments and royalties, and we will retain IP for principles and drug class. For the first 1-2 years, we will develop by organic growth, but longer term we will pursue our own programs and bring glycooptimized biologics forward to clinical trials. This will obviously require more resources, but we are confident that solid POC data and the right project will appeal to investors,” Claus Kristensen ends.