Glycotope, a leading glycobiology company, was awarded with the 2010 STEP-Award for financing on Wednesday.

Glycotope was selected for its strategically aligned and long-term funding concept.

CFO Dr. Franzpeter Bracht stated, "In addition to our outstanding technology, from the beginning we have put great emphasis on a balanced mix of revenues and investments."

"The extraordinary financial commitment by Drs. Thomas and Andreas Strüngmann has been of tremendous help though and secured the long term growth of our company, based on our outstanding technology the basis for our largely improved biopharmaceuticals developed by our CEO, CSO and founder Dr. Steffen Goletz" said Dr. Hans Baumeister, COO.

Even ahead of entering pipeline- and technology-related licensing agreements, Glycotope has thus been able to cover a large proportion of its expenditures via its contract research, manufacturing and diagnostics business.