Atlas Genetics raises £16.9m for market entry of Chlamydia-diagnostics


Bristol – Atlas Genetics has raised £16.9m from a syndicate of new and existing investors led by Novartis Venture Funds, and Consort Medical plc. The series B round will be drawn down over three years to help to commercialize infectious disease tests, especially the global launch of the Velox diagnostic-kit for Chlamydia and gonorrhea. Commercial launch of the system is planned for 2012. The money will also be used for the development of other infectious disease tests and to expand the immunoassay capability of the Velox system.
Velox is a point of care-diagnostic system for a broad range of infectious diseases using either nucleic acid or immuno-assays. Atals’s CEO John Clarkson commented: “We are delighted to welcome the new investors at this time when the company’s first productn is being transferred to manufacture and the core capabilities of the sensor chemistry are being expanded.“
The new investors in this series B financing are Novartis Venture Funds, LSP (Life Sciences Partners), BB Biotech Ventures and Johnson & Johnson Development Corporation. The newly announced financing follows a £1.5 million round in February 2011 supported by Consort Medical plc and other investors. The Company has been funded previously, and continues to be supported, by YFM Equity Partners, Braveheart Investment Group, Wyvern Asset Management, the Crescent Seedcorn Fund and private investors.



Norwich – A new meta-analysis of 16 clinical studies hits GlaxoSmith Kline’s diabetes drug rosaglitazone (Avandia). In a comparison to the diabetes drug pioglizaton (Actos), which acts on the same target (the PPARgamma receptor),...



Oxford/Seattle – British Chroma Therapeutics Ltd has licensed co-development and marketing rights for its oral cancer drug candidate tosedostat to US-based Cell Therapeutics Inc. According to the agreement, Cell Therapeutics will...



Cambridge (UK) – British researchers have discovered 12 new genetic markers involved in the development the chronic autoimmune liver disease biliary cirrhosis, which leads to irritation and swelling of the bile ducts and often...



Edinburgh – Lowering cholesterol could help the body's immune system fight viral infections. According to results presented from Scientists at the University of Edinburgh, the effect is mediated by a type I-interferon signal...



London – Cells normally boost expression of Checkpoint Kinase 1 (Chk1), to block cell division after DNA damage has occurred in their nucleus. Researchers headed by Iain McNeish from the Queen Mary University of London have now...



Manchester – UK biotech firm Renovo has announced it is going to cut 100 jobs after the firm’s licensing partner Shire LLC announced yesterday it will terminate the partnership. In mid-February Renovo reported Phase III failure...



Leeds/Calgary – Oncolytic reoviruses not only kill cancer cells directly but also force them to secrete cytokines that recruit cancer killing cells from the innate and adaptive immune system. According to researchers from Leeds...



Manchester – Hypoxia occurs in most solid tumours and is known to suppress chemotherapy-induced cell death (apoptosis). Researchers from Manchester University have shown that human colorectal and small cell lung cancer cells can...



British drug developer Acadia Pharma (Cambridge) has successfully completed Phase I dose escalation studies on APD515, an oromucosal formulation of a muscarinic agonist for treatment of xerostomia that affects 80% of advanced...



Cambridge – Patients with solid tumours bearing different cancer cell types might have a worse prognosis than those with homogeneous tumours, British researchers suggest (Brit. J. Cancer, 19th January). In tissue samples taken...

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