Home News DGAP-News: Chakra Biotech Sdn Bhd closes Series B financing round

DGAP-News: Chakra Biotech Sdn Bhd closes Series B financing round

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Release of a Corporate News, transmitted by DGAP – a company of EquityStory AG. For the content of Communication is the issuer / publisher responsible.
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PENANG, Malaysia, 29 March 2010 (GLOBE NEWSWIRE) – Chakra Biotech Sdn Bhd, a Malaysian contract research organization (CRO), has a Series B financing round completed high of MYR 18.2 million. Thus, the total amount of authorized share capital for this company Fordermittel MYR 20.0 million. Malaysian Life Sciences Capital Fund Ltd.. (MLSCF) and the Malaysian Technology Development Corporation Sdn Bhd (MTDC) participated in this round.
Chakra Biotech has to be a CRO to the growing demand of pharmaceutical and biotech companies specialized in the case for improved Allowed the evaluation of their in research phase, are Agents search for the using of Psychiatry In vivo efficacy models. Chakra Biotech’s CEO, Anthony Bishop, said: ‘The Series B financing is a strong proof of the confidence between us and our Investors are that our comprehensive range of services for our clients is valuable, particularly our proprietary chakragati (ckr) mouse model for the screening of new psychotropic drugs. "
To Chakra Biotech’s core services for the pharmaceutical and biotech industry heard the illustration of the effectiveness of the model of the research phase, are agents for the Psychiatry, as well as other CNS-active substances. The Series B financing will be used to the proprietary ckr mouse model for psychiatric disorders characterized further, To intensify Geschaeftsentwicklungsaktivitaeten and Testkapazitaeten by building a develop new 20,000 square-foot facility in Malaysia. That Company plans to employ up to 2012 60-70 employees, and wants a comprehensive range of screening techniques of world-class offering.
In the ckr mouse model is a U.S. patented transgenic model for psychiatric disorders. ‘Schizophrenia is a devastating disease that is diseased at the 1% of Weltbevolkerung. Based on the market drugs only act badly and have many Side effects. The ckr mouse model easily allows reaching our customers to assess, as to their active ingredients contained in the research phase of the be affected by human schizophrenia. It is important for the study the next generation of these drugs that these findings early in the process of research for better drugs for Schizophrenia patients are obtained, "said Dr Anil K. Ratty, founder and chief Scientific Architect of Chakra Biotech.
Dr. Roger Wyse, chairman of Chakra Biotech Board and co-chairman of MLSCF, said: ‘We have this important Round of investment completed, because we believe that this investment the Permits, despite the current financial situation, very important To reach milestones as well as introduce new services for their Customers are of great value. "
‘MTDC is pleased about the cooperation with chakra, which our Opinion is ready for strong growth. Our investment is the Help companies develop intellectual property, Beschaeftigungsmoglichkeiten for scientists and knowledge workers to create on the spot and to support the initiatives of our Government, Malaysia in an Convert Wissensokonomie with high per capita income, "said Norhalim Yunus, CEO of MTDC.
About Chakra Biotech Sdn Bhd
Chakra Biotech is a contract research organization (CRO), headquartered in Penang, Malaysia, which focuses on the growing demand of the pharmaceutical and has specialized biotechnology companies, which improved after Allowed the evaluation of their in research phase, are Agents are looking for psychiatry. The company started 2008 its Holding on and now offers a comprehensive range of services regarding the in vivo behavior. Malaysian Biotechnology Corporation gave the company the BioNexus status and granted him a Home demand for the marketing (Commercialization Seed Grant). MLSCF and MTDC already invested in 2008 in the Series A financing round.
The logo of Chakra Biotech Sdn Bhd is available upon http://www.globenewswire.com/newsroom/prs/?pkgid=7272
About MLSCF Ltd..
The Malaysian Life Sciences Capital Fund (MLSCF) specializes on early-stage investment in the areas of agriculture, Industrial and healthcare / biotech. The End, founded in 2006 Fund is jointly organized by the Malaysian Technology Development Corporation Sdn Bhd (MTDC) and Burrill
& Company, headed by olive and date High equity commitments of $ 150 million. MLSCF focuses on Investments in leading, privately owned Life Science companies with a focus on Malaysia and pursues the twin objectives of outstanding financial results and the demand of the life sciences ecosystem in Malaysia and for the country.
About MTDC Sdn Bhd
Malaysia Technology Development Corporation (MTDC) was established in 1992 by the Malaysian government to launch to the development of Technology companies in Malaysia to give impetus. MTDC has become the leading Provider of integrated venture capital solutions in Malaysia developed. To date, MTDC has more than RM 350 million in more than 50 companies invested.
CONTACT: Chakra Biotech Sdn Bhd
Anthony Bishop, CEO
+601 2401 0160
anthony.bishop @ chakrabiotech.com.my
News Source: NASDAQ OMX
29.03.2010 16:00 Ad-hoc news, financial news and Press releases transmitted by DGAP. Media archive at http://www.dgap-medientreff.de and http://www.dgap.de