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ESBATECH IS A WINNER OF THE 2005 RED HERRING 100 EUROPE
Award Recognizes the Top
100 Private European and Israeli Firms Zurich / London, April 12, 2005 – ESBATech (Zurich, Switzerland) today announced that it is a recipient of Red Herring 100 Europe, a selection of the 100 private companies in Europe and Israel that play a leading role in innovation and technology. Red Herring recently announced the 200 finalists from among over 800 candidates. Dominik Escher, CEO of ESBATech commented: ”We are delighted to be among the top 100 European and Israeli companies driving innovation. We have made significant progress and will approach clinical trials in 18 months from now with new and innovative antibody fragments as therapeutics. The antibody market is growing fast and we want to position ESBATech as one of the leading antibody fragment companies. This is a significant endorsement of our business at a time when we are in the midst of a Series C funding round, which will enable us to advance our pipeline.” Red Herring’s lists of top private companies are an important part of the magazine’s tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as those that would change the way we live and work. This is the first time that Red Herring magazine has compiled a list focused exclusively on the most promising startups in Europe. Red Herring editor-in-chief Joel Dreyfuss, commented: “Our list shows that despite obstacles posed by regulations, bureaucracy and tradition, innovation and entrepreneurship continues to thrive in Europe.” Red Herring’s editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. About ESBATech AG ESBATech AG focuses on therapeutic applications of its proprietary antibody fragments. The Company has developed a proprietary procedure for the selection of highly stable, fully human antibody fragments frameworks. This selection procedure was successfully applied and identified naturally occurring and highly stable human antibody fragments. These proprietary antibody fragments show no aggregation, which is a problem for many conventional antibody fragments and a cause of immunogenicity. Furthermore, the ESBATech antibody fragments have a much higher stability, solubility, and production yield as compared to conventional antibody fragments, thus opening new therapeutic possibilities, while reducing cost of goods of future products. ESBATech applies these proprietary, fully human antibody frameworks in a unique screening procedure allowing the identification of novel antibody fragments against an antigen of choice. In addition the technology can be applied to existing antibody fragments to improve their stability and solubility and hence achieve better expression properties. ESBATech's pipeline comprises programs in preclinical development for inflammatory diseases, Alzheimer, and glioblastoma. In addition, ESBATech employs its cellular technologies for the identification of small molecule inhibitors of kinases and proteases. These technologies are applied in collaborations with pharma and biotech companies. ESBATech recently announced a drug discovery collaboration with Novartis. About Red Herring Red Herring, Inc., founded in 1993, is a media company whose mission is to cover innovation, technology, financing and entrepreneurial activity. Its staff of award-winning journalists tell readers what's first, what matters and most importantly, why. Red Herring is dedicated to thorough research, relevant metrics deep financial analysis, in-depth reporting, crisp writing and thoughtful debate. We are a skeptical, intelligent and trustworthy source of information in technology business. Our primary obligation is to provide the most relevant, honest and independent information and analysis to our audience, with the conviction that an exceptional editorial product is the best catalyst for success and the best way to serve our advertisers and investors. Our content is original, compelling and actionable for industry executives and entrepreneurs. A privately held company, Red Herring, Inc. is headquartered in Belmont, California. For more information visit www.redherring.com For more information please contact: At the Company:
Dominik Escher, PhD,
CEO Media enquiries in Europe:
Douglas Pretsell, Northbank
Communications, Media enquiries in US:
Bryan Murphy, Lavoie Strategic
Communications Group |
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