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Archive for Tuesday, October 17, 2000

KU spinoffs land private, state funds

October 17, 2000

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Two companies spun off from Kansas University's Higuchi Biosciences Center for Drug Delivery Research have secured money to help develop markets for their products.

CyDex Inc. announced Monday that RiverVest Venture Partners, of St. Louis, had completed a $12 million round of private equity financing to help expand the market for Captisol, a drug-delivery compound originally formulated at the Higuchi center.

CyDex, of Overland Park, already has licensed Captisol to Pfizer, Allergan, Bristol-Myers Squibb, Daiichi Pharmaceutical and Peptichemio for use in products such as eye drops and an antifungal compound.

Another center spinoff, CritiTech Inc. of Lawrence, has received a $25,466 investment from the Kansas Technology Enterprise Fund. CritiTech will add $38,200 to help finance production of particles for testing, plus design of a high-pressure crystallizer.

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