News

Second Round of funding
Enlarge image

FundingUK

Second Round of funding

07.11.2012 - The British government-backed Biomedical Catalyst has started its second round of funding. A total of £39m will be given to 32 of UK’s leading life science projects.

The money comes from a £180m funding initiative set up in in December 2011 to help spur the commercialisation of new medical products and technologies being developed by UK businesses and universities. The funds are jointly administered by the Technology Strategy Board (TSB) and the Medical Research Council (MRC). The TSB manages 22 SME-led projects, totalling £29.6m. Business recipients include Cambridge biotech company Arecor, which has been awarded £85,000 to accelerate the development of high concentration antibodies to allow more convenient administration of future therapeutic medicines and reduce healthcare costs. KalVista Pharmaceuticals (Southampton) will use its £2.4m grant to further develop its oral plasma kallikrein inhibitor as a treatment for diabetic macular edema (DME). Other recipients include PsiOxus Therapeutics, which received £1.7m to develop a virus-based oncolytic vaccine for treating ovarian cancer, and Modern Biosciences, which received £1.6m to push forward the development of a novel anti-inflammatory compound for treating rheumatoid arthritis. Additional companies receiving funding include dermatology and inflammation company Creabilis S.A. (Canterbury, £1.4m); cancer company Cyclacel Pharmaceuticals Inc. (Dundee, £1.9m); drug delivery company Glide Pharma Technologies Ltd. (Abingdon, £2.3m) and medical imaging company IXICO Ltd. (London).

Grants to the 10 university-led projects, totalling £9.5m will be administered by the Medical Research Council. Academic recipients include Oxford University, which will use its grant to conduct human trials of a universal flu jab that could protect against all known strains of the illness.

“Britain is in a global race today and this £39 million investment will help keep us at the very forefront of life sciences by supporting some of our most innovative SMEs and universities. It will help take excellent ideas through to market, driving growth and helping patients benefit from the  very latest technologies and treatments“, stated David Willetts, UK’s Minister for Universities and Science.

Taking into account contributions to the projects from the participating companies, the total value of the research, evaluation, development and demonstration work to be undertaken by the 32 projects exceeds £63m. The Biomedical Catalyst’s initial funding awards, announced in August, injected nearly £10m into 14 universities and 18 SMEs, supporting them on their vital first steps in exploring the market potential of their scientific ideas.

© eurobiotechnews.eu/bk

http://www.european-biotechnology-news.com/news/news/2012-04/second-round-of-funding.html

BiofuelsEU

30.04.2015 The European Parliament has given the go-ahead on a new law limiting the use of harmful crop-based biofuel in the transport sector. The decision marks a breakthrough in the EU’s approach to biofuels.

FinancingSwitzerlandUK

29.04.2015 Biopharma start-up CRISPR Therapeutics has raised US$64m to hurry the new CRISPR/Cas9 technology to the clinic.

FinancingBelgium

28.04.2015 After having raised €100m in its stock market debut, MDx company Biocartis has gained 13 percent on its first trading day.

R&DFranceUKSweden

24.04.2015 AstraZeneca has boosted its oncology portfolio by signing a US$1.275bn agreement with Innate Pharma. The companies plan to further the development of Innate’s tumour-targeting antibody.

PoliticsEU

22.04.2015 A legislative proposal by the European Commission is set to renationalise market authorisation of genetically modified crops.

FinancingUK

21.04.2015 Ahead of its listing on the London Stock Exchange, Woodford’s Patient Capital Trust has raised a record sum of €1.1bn. The fund met with immense interest by investors.

Swiss Biotech DaySwitzerland

16.04.2015 The Swiss biotech industry can look back on 2014 as a good year, but political uncertainties do remain. This was one of the topics discussed during the Swiss Biotech Day in Basel, which attracted more than 400 participants.

EventEUFrance

16.04.2015 The changing landscape in healthcare was just one of the hotly discussed topics of the 27th Annual EuroMeeting of the international association DIA.

R&DBelgium

14.04.2015 Belgian Thrombogenics NV has launched a new oncology company with Gent-based life sciences institute VIB. The new venture will develop an antibody for the treatment of a fast-growing brain tumour that affects children and adolescents.

Stock MarketsEUFranceUKNorwaySweden

09.04.2015 The European public markets remain highly attractive for biotech companies. Twice as many companies went public in the first quarter of 2015 than during the same period last year.

Events

All Events

Partner-Events

München

BioVaria 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • THERAMETRICS0.08 CHF14.29%
  • MEDIGENE10.96 EUR4.88%
  • EVOLVA1.58 CHF3.27%

FLOP

  • BIOTEST71.00 EUR-3.92%
  • SYNGENTA314.40 CHF-3.65%
  • 4SC5.03 EUR-3.27%

TOP

  • 4SC5.03 EUR293.0%
  • WILEX4.33 EUR51.4%
  • SARTORIUS151.00 EUR21.2%

FLOP

  • CYTOS1.01 CHF-29.4%
  • BIOTEST71.00 EUR-26.9%
  • BIOFRONTERA2.30 EUR-11.2%

TOP

  • SANTHERA96.45 CHF2329.5%
  • CYTOS1.01 CHF676.9%
  • WILEX4.33 EUR397.7%

FLOP

  • MOLOGEN4.94 EUR-55.4%
  • BIOFRONTERA2.30 EUR-29.2%
  • BIOTEST71.00 EUR-20.0%

No liability assumed, Date: 03.05.2015