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Druggability Technologies Holdings Limited (DRGT), a privately held biotechnology platform company, announced today that it has completed an initial round of financing totaling $4,000,000. The round was led by Andrew Midler through his investment entity, SPCH. Upon DRGT reaching certain additional milestones, Mr. Midler has agreed to invest an additional undisclosed amount.
"This investment represents an important validation of the Company's proprietary NanoActive™ technology platform, and provides a stable and solid capital base for the company's anticipated growth over the next few years," said Gabor Heltovics, CEO of DRGT.
"We welcome SPCH to the company and look forward to working with Andrew Midler as we advance the company's business," said Ferenc Darvas, Founder and President of Darholding, DRGT's majority owner.
Andrew Midler, who led this financing said, "We are very pleased with our investment in DRGT, a company we believe will bring to the biopharmaceutical industry transforming new capabilities to enable and improve the delivery of important drugs, and create demonstrable proprietary value in areas of significant unmet need."
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
About Druggability Technologies Holdings Ltd
Headquartered in Dublin, Ireland, DRGT, through its subsidiaries, is developing and commercializing its proprietary NanoActive™ high throughput technology platform. This platform delivers improvements in compound solubility, permeability and pharmacokinetics that can be applied across a diverse universe of chemical and biological compounds.
The Company's experience in improving the bioavailability and kinetic profile of drugs is born of a heritage of three decades of scientific and industrial knowledge gained through successful commercial ventures in bio- and chemo-informatics, combinatorial chemistry, chemical genomics, flow chemistry, colloidal chemistry, and nanotechnology.
Standard Pacific Capital Holdings LLLP is an affiliated entity of Savitr Capital LLC, a San Francisco-based investment firm. Savitr combine socially responsible approaches with the goal of providing superior risk adjusted returns.
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Druggability Technologies Holdings Ltd
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