DÜSSELDORF, Germany--(BUSINESS WIRE)--SilverSky’s portfolio company, KXTbio, has been awarded US$300,000 in US government funding by the National Institutes of Health to develop a new screening platform that will significantly reduce costs of the critical early phases of drug development. Under this grant, KXTbio will develop a high-throughput platform to screen for compounds acting on G protein-coupled receptors (GPCRs) that will reduce off-target hits, increase bona fide leads, and speed up drug discovery. After a successful completion of this project, KXTbio will be able to request up to $1.5M in additional funding to further validate and expand its innovative platform.
“With this grant and our collaboration with SilverSky, we are getting considerably closer to our vision of providing access to new methods for the development of new therapeutics for our pharma clients”, explained Prof. John Sondek (CSO, KXTbio Inc.). Dr. Mirko Stange (CEO, SilverSky) added, “We are interested in forming partnerships with pharmaceutical companies in order to commercialize existing products, such as novel sensors for determination of target protein activities like PLCglow™ and high-resolution coordinates of relevant pharma targets such as PLCγ1, as soon as possible. We are pleased that we can already count reputable pharmaceutical companies from both in the US and Europe among our initial customer base.”
KXTbio’s product lines help researchers understand the diverse and fundamental cell functions mediated by phospholipase C (PLC) isozymes. Alterations in the regulation of PLCs contribute to numerous human conditions, including cancers, cardiovascular diseases, autoimmune diseases, and neurological disorders. Signaling pathways controlled by PLCs are therefore important potential targets for pharmaceutical interventions. KXTbio has launched PLCglow™ - the world's first fluorogenic, non-radioactive biosensor for real-time monitoring of the activity of PLCs and has recently determined and refined at atomic resolution the crystal structure of full-length PLCγ1 – an unexploited, but pharmaceutically important target. In partnership with SilverSky, a consultancy company, KXTbio seeks industry collaborations to apply its proprietary screening platforms. KXTbio receives operational support from this international life sciences consultancy for grant acquisition, corporate financing, and, through provision of management roles for marketing and sales, global market access.
About KXTbio, Inc.
KXTbio is a class leader in the development of reagents for investigating GPCR signaling pathways, and focuses on producing small molecule modulators, reporters, and assay kits. KXTbio offers innovative solutions for customers from academic institutions, biotech and pharma companies, and contract research organizations. All KXTbio products address previously unmet research demands, particularly in the area of pharmaceutically relevant classes of GPCRs, GTPases and their key downstream proteins. GPCRs have been a focus of drug research for decades and are targeted by approximately 40% of all prescription pharmaceuticals. In contrast, the downstream components of GPCR signaling cascades have not been pursued as drug targets until very recently and thus represent a significant future growth potential for the company.
About SilverSky Unternehmensberatung GmbH
The SilverSky consultancy is based on an international, energetic and interdisciplinary team of physicians, entrepreneurs, scientists and company executives with extensive experience in the foundation and development of biotech, medtech and pharma companies. The team around CEO Mirko Stange continues to evolve to provide a broad palette of complementary competencies critical for the successful creation, expansion and motivation of life science organizations. The combination of scientific, medical, industry and operational know-how, with over 100 collective years of international experience in business development of life science companies, offers our clients the opportunity to discover new innovative and entrepreneurial solutions.