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Astex of Britain Raises $8 Million

NEW YORK, Dec. 17 – British structural genomics company Astex Technology said Monday it raised 5.7 million pounds ($8.1 million) in its second round of private financing this year. 

Previous investors in Astex, including Abingworth, Advent International, Alta Partners, GIMV, and Oxford Bioscience Partners, participated in the round. 

The Cambridge-based company said it would use the funds to develop its structure-based drug discovery technologies.

“These funds put us in a strong position to rapidly progress the novel drug discovery approaches being developed at Astex," Timothy Haines, CEO of Astex said in a statement.  

Astex uses high throughput X-ray crystallography to determine protein structures. In addition to its HTX platform, uses structure determination, bioinformatics, and computational and medicinal chemistry to discovery new drugs. 

Astex has research agreements with Janssen Research Foundation and AstraZeneca.

So far this year Astex has raised 28.4 million pounds.

 

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