Oxyrane announced the divestment of its Belgian operations as part of its transition towards a clinical stage company.
As Oxyrane is finalising IND-enabling studies for its lead program on Gaucher Disease, it was decided to sell off its discovery R&D center in Ghent. Oxyrane’s wholly owned subsidiary, Oxyrane Belgium, was transferred to NewMilkBuzz BV, a newly established company based in The Netherlands. All employees retain their job, the financial details of the transaction will not be made public.
Wouter Vervecken, CEO of Oxyrane comments: “I would like to express my gratitude to the team for all their hard work and perseverance in bringing our Gaucher and Pompe programs close to IND stage. I wish them great success in the new company and with their new research programs.”
Oxyrane continues to further progress its lead programs on Gaucher and Pompe Disease to the clinic.
Oxyrane UK Ltd is a Manchester, UK based biotech company dedicated to developing Enzyme Replacement Therapies (ERTs) for Lysosomal Storage Diseases. Using its proprietary glycoengineered yeast based OxyCAT platform, the company can produce ERTs with enhanced cellular uptake and superior pharmacodynamics in a cost-efficient manner. The lead program on Gaucher Disease is in late preclinical stage.