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Davide Sirtoli Named Chairman of Advancell

By 8 de February de 2008November 18th, 2020No Comments
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 08.02.2008

Davide Sirtoli Named Chairman of Advancell

The biotech company Advancell, housed at the Barcelona Science Park (PCB), has named Davide Sirtoli as its new chairman. Sirtoli's selection reflects the company's desire to strengthen its ability to bring products successfully to market and broaden its network of international contacts, especially in Europe and in the Americas. Sirtoli, outgoing thirty-year general manager of Zambon (Spain), will also lend momentum to Advancell's efforts in the pharmaceutical area, in which he has extensive experience.

Sirtoli characterises his taking the helm now as a “magical moment”, because it coincides both with the start of clinical trials for a new treatment against B-cell Chronic Lymphocytic Leukemia, a type of blood cancer for which no effective therapeutic solution currently exists, and the go-ahead to begin patient testing of a new topical medication for the treatment of psoriasis.

Recently, Advancell announced the injection of eleven million euros of fresh capital to fund a sizeable portion of its most immediate projects. The funds were raised through a rights issue of 7.5 million euros from private capital and through loans of 3.5 million euros provided by public and semi-public institutions, including the Centre for Technological and Industrial Development (CDTI) and the Spanish Ministry of Education and Science. The 7.5 million euros from the rights issue has largely come from Advancell shareholders.

Advancell has two divisions: the Pharma division, focused on developing innovative drugs through research into new applications of already-known molecules; and the Services and Reactions division, using cell-based, in vitro techniques to assay molecules under development for their efficacy, safety and mechanism of action. The company’s business model is based on on a methodology that leads to a considerable reduction in the costs, risks and development timescales of a new drug.