Seito acquires 2.8 million francs

(CONNECT) Seito Biologics AG(Seito) from Küsnacht has been able to acquire financing amounting to 2.8 million Swiss francs. According to a press release, the fresh capital comes from private investors and the Lichtsteiner Foundation in Bern. The biotechnology company, a spin-off of the Swiss Federal Institute of Technology in Zurich(ETH), intends to use the money to advance its research into the treatment of autoimmune and chronic inflammatory diseases. Seito relies on therapies with regulatory T cells. The body's own T cells are used to solve immunological problems without the need for immunosuppressants.

“This funding will significantly support the development of our proprietary T-regulatory cell activators for the treatment of patients with autoimmune and chronic inflammatory diseases,” Onur Boyman, Chief Executive Officer of Seito, is quoted in the press release. Ufuk Karakus, Chief Scientific Officer of Seito, is convinced of the effect of the process: “Seito's T-regulatory cell activators have shown very promising results in several preclinical animal models.” ce/ww