Diatos S.A. Opens Its R&D Subsidiary Diatos N.V. in Belgium

Biotech Fund Flanders (BFF) Makes Initial Investment in Diatos

18-Mar-2004

Paris and Leuven. Diatos S.A., a privately held biopharmaceutical company, announced the expansion of its operations with the opening of a new research and development center in Leuven, Belgium. Last February the company announced a 7 million Euro round of financing, 3 million Euro of which came from the venture fund Biotech Fund Flanders (BFF), earmarked for the new R&D subsidiary in Flanders.

Professor Andre Trouet, Diatos' Chief Scientific Advisor and a renowned leader in the field of tumor-selective prodrugs, will oversee the research at the new R&D center located in Flanders, a region known for its hospitable environment for emerging biotechnology companies. Professor Trouet and his team in the Cell Biology Laboratory at the Universite Catholique de Louvain (UCL) have collaborated with Diatos for the past three years under a technology and research agreement which was recently completed. Diatos N.V., as the center will be called, will operate as a wholly-owned subsidiary of Diatos S.A.

"Our original collaboration with UCL was extremely productive, and we are gratified to have Professor Trouet lead our continued TSP technology development at Diatos' new research center in Leuven," commented John Tchelingerian, Ph.D., Diatos President and Chief Executive Officer. "Diatos NV will also participate in the clinical development of our lead therapeutic candidate DTS-201."

A ceremony to dedicate the new R&D facility was held today in Leuven, with dignitaries from government, academia and the biotech industry in attendance. Dr. Tchelingerian stated, "At this time I would like to express our gratitude to Dr. Martin Hinoul, Business Development Manager of the KU Leuven R&D, for his efficient help in the establishment of Diatos N.V."

Frank Bulens, Executive Investment Manager of the Belgium venture capital firm GIMV Life Sciences which manages BFF for the government of Flanders, commented, "GIMV has been an investor in Diatos since 2000, and we are delighted that BFF is now joining the major European, US and Japanese venture capital firms that are supporting Diatos' cutting edge Research & Development. I am especially pleased to welcome the BFF funding because this is their first investment in a French-owned company establishing biotech activities in Flanders."

https://www.bionity.com/en/news/36143/diatos-s-a-opens-its-r-d-subsidiary-diatos-n-v-in-belgium.html