Complix Receives €1.9 Million IWT Grant to Accelerate Development Of Alphabodies™ against Intracellular Disease Targets, Including Cancer

Complix Receives €1.9 Million IWT Grant to Accelerate Development Of Alphabodies™ against Intracellular Disease Targets, Including Cancer PR Newswire HASSELT, Belgium, October 30, 2012 HASSELT, Belgium, October 30, 2012 /PRNewswire/ -- Complix announces that it has been awarded a €1.9 million grant (approximately USD$2.4 million) from the Flanders government through IWT (Agency for Innovation by Science and Technology in Flanders). The grant will allow Complix to accelerate the development of its unique cell penetrating Alphabodies (CPABs), against a range of intracellular disease targets, including cancer. Alphabodies represent a novel therapeutic development platform with the potential to address a vast number of disease targets that are currently considered "undruggable" by the two main classes of therapeutic drugs: small chemical drugs and therapeutic antibodies. In particular their ability to act on intracellular protein targets represents a major medical and commercial opportunity. During the past year, Complix has generated a wealth of data demonstrating the attractive properties of CPABs that are capable of acting on intracellular disease targets. These results show that CPABs are taken up effectively by tumor cells. Once inside cancer cells the CPABs can act on an oncogenic target protein and block its function, thereby inducing apoptosis (cell death).