Biotech firm Activiomics this week said it has raised £500,000 ($806,715) in a funding round led by IP Group and joined by IP Venture Fund and members of Activiomics' management team.
The investment, which is about $200,000 short of the $1 million CEO Mark Warne in December told ProteoMonitor the company hoped to raise (PM 12/10/2010), will be used to further grow partnerships with pharma and biotech companies as well as to pursue identification of prognostic and diagnostic protein biomarkers for cancer, the company said.
Activiomics' main technology platform is its TIQUAS, or targeted in-depth quantification of cell signaling, system – a label-free, LC-MS/MS-based approach to quantifying levels of phosphorylated proteins in material like cells or human tissue. The company's proprietary Pescal software enables researchers to quantify identified peptides by automatically extracting their elution profiles and generating extracted ion chromatograms for each.
Since launching in February 2010, the firm has announced two pharma deals – a project for GlaxoSmithKline investigating phosphorylation patterns related to inflammatory stimulus and steroid treatment (PM 04/23/2010), and an agreement with biopharma firm UCB to study cell signaling pathways targeted by therapeutic antibodies.
In December, Warne said the company was negotiating other agreements for cell signaling analysis work, including one with a large biopharma company that it hoped to announce early this year, but as of yet no additional announcements have been made.
In addition to doing fee-for-service work, Activiomics is also pursuing its own internal protein biomarker studies with the ultimate aim of developing proprietary diagnostics.