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01 July 2004
F2G
Ltd Announces Successful New Financing
New Funding Seen As A Vote of Confidence
Manchester,
England, July 1, 2004 - F2G Limited, specialists in research and
development of new treatments for serious fungal infections in man,
has received $5.5m investment of capital. "This additional investment
reflects investors' confidence in our company, and is an endorsement
of the progress we are making," said Shane Kelly, Chief Executive
Officer. "We are delighted with the significant scientific progress
achieved over the past 12 months in our discovery programmes, and this
new funding will allow us to pursue the exciting lead compounds we have
identified."
The new funding was secured at a higher company valuation than last
year. Said F2G's Chairman, Jens Kindtler of BankInvest, "F2G has
continued to build on its discovery pipeline and enhance its platform
technologies. We look forward to seeing an acceleration of progress
as a result of these additional funds."
F2G specialises in the research and development of new treatments for
serious fungal infections in man. The Company received its first institutional
investment in 2002 and has the vision of becoming a world leader in
antifungal R&D. It is unique in its focus on drugs for the treatment
of invasive fungal infections. The Company's R&D is focused in this
area in response to the unmet clinical need for better drugs and the
rising incidence and high mortality of invasive fungal infections.
F2G has developed a capability for the rapid assessment of candidate
drugs and has built infrastructure to develop compounds up to Phase
II. It has also developed and enhanced its MycoBank®, a functional
genomic technology which enables the precise and rapid identification
of genes which are essential for survival of the fungi. This does not
require any information on gene sequences or assumptions about gene
function. F2G is applying this technology to Aspergillus fumigatus in
the belief that this will open the way to a more successful approach
to the search for better antifungal drugs.
Contact:
F2G Ltd
Tel: (+44) 0161 785 1270
Fax: (+44) 0161 785 1273
Email: contact@f2g.com
Tel +44 (0)161 785 1270 Fax +44 (0)161 785 1273 Email contact@f2g.com