Avidex invests in Syngenta

Oxford, UK-based biopharmaceutical company Avidex says that Syngenta AG of Switzerland has made an investment of L5.0 million ($8.7 million) in the firm in exchange for a minority equity stake. Also, it announced that Ian Kimber of Syngenta has joined the board of directors of Avidex, effective January 1.

Neill Moray Mackenzie, chief business officer of Avidex, commented: "we are extremely pleased that Syngenta has invested in Avidex at this time and that Ian Kimber will join us. Dr Kimber is a well-known and well-respected immunologist with interests in all aspects of allergy and allergic disease which is one of our non-core therapeutic areas."

Avidex is a biotechnology company focused on the development of small-molecule modulators of T cell function and protein therapeutics based on T cell receptors. The firm has key programs leading to novel treatments in cancer, inflammation, autoimmune diseases and now allergy. Its breakthrough monoclonal T cell receptor technology enables the production of fully human, soluble T cell receptors. These mTCRs can deliver immunological effector molecules to cancer cells and can block activation of T cells in autoimmune disease.