Chinese Biotech Investor VIROAD takes over GILUPI
The investors AURELIA, High-Tech Gründerfonds (HTGF), KfW, ILB, the venture capital fund of the Sparkassen of Brandenburg and Business Angels sell their GILUPI shares to the strategic partner VIROAD. GILUPI is a company developing and manufacturing personalized cancer diagnostics in Potsdam. Due to the takeover, GILUPI gets the opportunity to continue the development of its medical products and to diversify their range of products through in-vitro diagnostics. At the same time, the transaction allows the young biotechnology company the access to the attractive Chinese market.
Since December 2012, VIROAD is a strategic partner, largest investor and shareholder of GILUPI. The Chinese investor has many years of experience in the approval of medical devices. The approval procedure, including the associated clinical study for the GILUPI CellCollector® has already been started in China. The GILUPI CellCollector® isolates complete circulating tumor cells (CTC) – the so-called liquid biopsy. To ensure a stable future and sustainable growth prospects within international markets, VIROAD now takes over all company shares. The investors, who accompany GILUPI financially and commercially since 2006, are pleased with the attractive exit. The HTGF, that allowed the launch of GILUPI as seed investor, emphasizes that “even the facility in Germany will strengthen and expand by the Chinese involvement. VIROAD will market the products in China, but needs the German site for developments and also to address the European markets.” said Dr. Michael Brandkamp, Managing Director of HTGF.
The Managing Director at GILUPI, Dr. Jens Pfannkuche, is convinced that the company can market its promising technology and other diagnostic products, especially in Europe and Asia now: “Predictive and companion diagnostics are more and more important in the oncological area, since there are various treatment options. Together with VIROAD we can realize a rapid market access in China in addition to the core markets of Europe. Our current focus is on cell enumeration as a prognostic biomarker in the main oncological indications. Further, we are currently working on molecular assays, to detect genetic changes of CTCs on DNA and RNA level. Especially, therapy decisive measures in non-small cell lung cancer (NSCLC) are in our focus. The easy access to CTCs from the bloodstream using our GILUPI CellCollector® – when compared to to tissue biopsy – particular for the detection of resistance mutations makes our Liquid Biopsy concept very attractive.”
Xu Baozhi, general manager of the Chinese medical technology company VIROAD, emphasizes “The products of GILUPI have met the strong demand in our Chinese market. The population in our country is aging, and the market for diagnostics is growing dynamically. We are therefore looking forward to expand with our German partner.”
Other news from the department business & finance
Get the analytics and lab tech industry in your inbox
From now on, don't miss a thing: Our newsletter for analytics and lab technology brings you up to date every Tuesday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
See the theme worlds for related content
Topic world Diagnostics
Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.
Topic world Diagnostics
Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.
